I live in the NW, I own three parks and have been looking to buy more. Unfortunately around here not much is making it to market lately. When someone selling a park in this area takes it to a local park broker, that broker merely picks up the phone and calls a couple friends who buy a lot of parks and offers it first to them. Only if they do not want it or the deal fall through for some reason, will it ever make it to market where I might have a chance to see it at all. The last park that I bought was a couple years ago, and I feel lucky to have got it. It came onto market after some financing issues with the guy who was offered it first off-market. These brokers I figure must be receiving a referral bonus for going to these people first, plus its easier for them. My question is how do I compete when I don’t have these kind of connections?
Take the broker for lunch, golfing, hunting. If a buyer proved they can close and have that relationship then if I were a broker, I would call them first too.
I feel your pain though. I think most are in the same boat but not all already have 3 parks.
There are lots of parks for sale in MI. In, and Ohio–over 100 ready for new owners.
Carl, did you infer you wouldn’t go to Michigan.
The Grand Rapids area is robust and very healthy–the rest of the state no thanks. I am not at liberty to explain why without getting some nasty comments.