Send intro letter to residents while in due diligence?

I’m planning to send the standard introduction letter which also is a solicitation for an on-site manager.

This should be done while in DD and not after closing on the park, correct?

Thanks!

What does the letter say?

If I was the seller, I would NOT allow this. It can create too many headaches in the event in the property does not close.

I agree. It’s not a done deal

Thanks all. I talked with my attorney right after I posted this, and he basically said the same - wait until after DD is complete and you know the transaction will close.

Hi Johnny,

Sending out a letter isn’t the only way to find your park manager.

If the seller allows you to speak with park residents during DD, find the long-term residents and talk to them about the park. If you are genuinely interested in making a better community, the resident who is also interested in that will notice that in you and vice versa. This is a potential park manager.

We purchased a park in Dayton, Ohio where a company had taken over 16 years before and fired everyone. The manager that they fired still lived in the park, she had managed the park for 20 years and her grandmother was the original park manager in the late 1950s. The park had taken a turn for the worst and she was eager to see the park thrive again. She had a no bull attitude and all the kids in the park feared her scolding them for misbehaving. PERFECT.

Getting the right manager is one of the pillars in a successful park business. You can begin to find that person before you purchase the property by keeping your eyes open for the nicest homes, and keeping your ears open while talking to the long-term residents. Will.

www.elkhorngroup.org