Help with MH Park - Posted by tim

Posted by tim on December 01, 1999 at 21:43:59:

Here’s the deal: I was looking for some Lonnie deals to buy, but instead I found a Park. I need a little help on this now.

The Details:

219 Lots
180 Park owned homes, 5 private homes, the remaining lots vacant. All Lonnie deals. Older homes though, avg year '72-73
24 acres
Occupancy: 53%
All city utilities
Plus a store, luandry, and office in a seperate building.
Est Rev= $350K gross
Asking Price= $1.75 million.

I need a little help with this one. I want to sell the homes (Lonnie Deals) and keep the land. Looking for help from the experts and any other advice.