HELP! chance to purchase MHP - Posted by Matt(IN)
Posted by Matt(IN) on March 09, 2001 at 20:42:33:
while out looking for “lonnie deals” today i talked to a park owner that was burned out. He has been renting the MHs out for years dealing with tenants and maintenance and due to health reasons he has had to hire out to do the work for the past year. I could tell he wants out bad but at a fair price. Here is what he’s got-
15 unit park with two bedroom home,large mechanics garage and 14 older MHs.
the house is empty, 7 MHs rented for 150 month, 1 lot rent of 50 and the garage is 200 for storege.
there is great potential here.
lot rent goes for about 75 dollers here and the MHs could be sold off along with rent from the house and garage.
all lots are indivdually metered for water gas and elect. plus the MHs have been upgraded to breaker boxes on all that had fuses.
now the problem i have 3,000 dollers to my name that is supposed to pay off some small bills and no idea how to stucture this. or even figure what it is worth.
he had it listed about a year ago for 150,000 with no luck selling (wonder why huh) i know that is to much for the present condition. this seems like a great oppertunity so any help would be apprecated.