Posted by Ernest Tew on May 24, 2000 at 19:50:58:
Net leasing a park with an option to buy is an excellent way to go. We have leased two large parks and several apartment complexes over the years. All were very successful.
Please contact me by e-mail and I will send you some excellent forms for net leasing property with an option to buy.
I suggest that you lease the park personally and purchase the option in a Roth IRA. Then, upon the eventual sale (of the option) all the gain will be tax-free.
HELP!..MH PARK LEASE… - Posted by Robert
Posted by Robert on May 24, 2000 at 16:21:06:
First of all, thanx to everybody on this site that takes the time to help out us young’uns. My question is…Does anybody have an example of a lease / sub-lease agreement for an entire MH park that they can email me…I was riding the humps and found a 35 unit park (mostly 12 x 40-50s) that the owner says she might lease to me. It is an old park, about 50 years old, but it stays full (rentals) year round. She is tired of the rental game and wants to sell as many homes as she can. My problem is that I just bought one today from another park for $2750 and I only have about 3K left. I intend to offer to buy a couple of the homes outright (about 1.5K a piece) and then sub-lease the rest of the homes/lots, including the 2 or three vacant lots which I will put my own homes on. I don’t relish the idea of being a landlord,(I grew up fixing my mom’s rent houses) but I’m just starting out and need the exposure to the market. If any of you can think of a better way to structure my offer or any other thoughts on the ma
Re: HELP!..MH PARK LEASE… - Posted by Robert
Posted by Robert on May 24, 2000 at 16:34:05:
It cut my msg off!..anyway, I was saying that the lot/home rentals (together) go for $300/mo(sounds low) with the park paying the H20 and elec except for $40/mo from June-Oct…She said they are going to start seperate metering soon though…Caramba, I just had an idea…I can lease / option the whole park…since I intend to buy the homes eventually anyway…Ok, sorry for the rambling…so I guess I need an example of a lease/option for a park…Thanx for yalls patience…
Re: Park Net Lease. - Posted by Eric Anderson
Posted by Eric Anderson on May 24, 2000 at 21:35:55:
Ernest,
May I please have a copy of your net lease form. I have both of your books but they are 2,000 miles away from me.
Also interested in information about holding the option in a Roth IRA, would appreciate it very much, I’m dealing on another park now, and that sounds like
a good way to go. Is that info in your asset protection book?
Please email to ericanderson@usa.com which is different than the address on my header.
Thanks, Eric Anderson