Posted by ernie on May 05, 2006 at 06:25:04:
Anne,
Thank you for your comments/suggestions. Good advice and I appreciate your input. I am at the stage in life that a “turn around park” does not provide a lot of interest. I have does this in another environment, twice, reaped the benefit and am looking more for a primarily pad only type park. The long term rental income from that set up appeals to me but not having owned a MH Park poses a lot of unknowns. More research, books from this website and input from people like you will hopefully guide me.
Buying a MH Park? - Posted by ernie
Posted by ernie on May 03, 2006 at 12:31:20:
Maybe I mis-stated my first post or it was interpreted incorrectly. I would appreciate any opinions/advice on whether it is better to purchase a smaller park and have the $$ resources to do some Lonnie Deals or purchase a larger park without the resources to do any owner financing of MH’s? Thank you in advance for your time.
Re: Buying a MH Park? - Posted by Anne_ND
Posted by Anne_ND on May 04, 2006 at 08:25:47:
Ernie-
Regardless of which method you choose, it would be wise to have a reserve of funds for the repairs/upgrades that you will inevitably need to do.
Lonnie deals don’t take much money at all, so are you saying you’ll tap yourself out completely in order to buy the park? Bad idea.
Decide whether you want to buy a turn-around park or not and do your due diligence. Ray Alcorn has an excellent book available here. The bootcamp would also help you before and after you buy a park, plus it’s in your (new) backyard, you should not miss it.
good luck,
Anne