On this episode of The Mobile Home Park Lawyer Podcast, our special guest Nick Najjar who is an Entrepreneur, business owner, and real estate investor focusing on acquisitions and operations of mobile home parks in the midwest.
Nick Najjar works with the top Realtors in St Louis to host their events and produce their monthly trade publication, Real Producers.
In this episode, you will learn Branding, Strategic Appreciation, Marketing, Consulting, and Relationship Action Planning
Highlights of the episode:
00:00 Episode Introduction
00:33 Introduction of the guest
01:05 How to get started in the Mobile Home Parks business
00:02:22 Getting the first deal on market
04:08 The special sauce for uncovered gems
05:23 The Millionaire Park Opportunity
08:13 Professional operators learning from old park owners
09:31 How to look at broker deals and stay competitive
10:24 Finding Better Buyers in a Microeconomic market
11:39 Beating the offer of a competitor with a 500 million dollar line of credit
13:58 Premium pricing through a valuation perspective
19:36 Mistakes that park operators can make
23:20 What is HUD and why it’s important
28:00 Finalizing the Contract
32:08 The Challenge of Repairing a Park Water System
37:51 Why Plumbers Don’t Have To Go Through a Contractor
Notable Quotes
“I like to call professional operators like guys like you and me, we run it like a business or at least try to and all that. And then you got the guys that built the mobile home park that owned the park for twenty years. And they’re just such a unique type of individual that we learn so much from.” – Nick Najjar
“There’s some brinkmanship and negotiation with I’m trying to buy your can of coke with a couple dance for 80 cents and you’re trying to sell it for a dollar and a call for offers somebody so thirsty they’re going to pay $2 for that can of Coke, even if it doesn’t make any economic sense. – Nick Najjar
“There are some big, skilled operators that operate portfolios in all parts of the country. I just think that’s a lot harder. And you’re going to need a lot more and a lot better staff and it’s going to reduce your margins. But if you can scale, maybe it’s okay.” – Nick Najjar
Connecting with the Guest
Website: https://stlrealproducers.com/
Facebook: https://www.facebook.com/STLRealProducers/
LinkedIn: https://www.linkedin.com/in/nicknajjar/
Connecting with MHP Law:
Website: https://themobilehomelawyer.com/
Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069
LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/
Instagram: https://www.instagram.com/themhplawyer/
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