Posted by jason_ga on March 21, 2000 at 16:35:26:
what part of ga?
MH Park–help with structuring offer - Posted by JoAnne(GA)
Posted by JoAnne(GA) on March 21, 2000 at 12:48:54:
Hi,
It’s me again. I’m working on a lot of different things. Here’s another.
Mobile home park has 22 spaces 10 are set up with septic and water. 5 lots are rented at $75. 2 homes bring in $375 each and 3 MH are in need of repair. Income report by owners for '99 was $9k. Expenses (water, septic maint. and taxes)are around $600 yr.
I need help on structuring this. If you can help please let me know.
JoAnne
Re: MH Park–help with structuring offer - Posted by Nancy Cason
Posted by Nancy Cason on March 22, 2000 at 20:17:19:
Make sure you can complete the park. The septic systems will be the deciding factor. Check thoroughly with your health department and your zoning board.
Then look at the income minus the expenses. Don’t forget cutting the grass, security lights, etc. Price the trailers separately.
The income of the park is from the lots that are currently rented. Lot rent x lots actually rented. Each trailer should be valued with the NADA book and be sure to cover age and condition thoroughly with the sellers. Inspect the mobile homes inside out.
This can be a great deal. I bough a small park last year but don’t know if I would do another.
HAVE FUN AND KEEP A POSITIVE MENTAL ATTITUDE
Nancy
Re: MH Park–help with structuring offer - Posted by lyal
Posted by lyal on March 22, 2000 at 08:56:22:
Joanne, Read Doug Ottersberg’s articles in the “Money Ideas” section on “Turning Trailer Parks into Communities”. He addresses evaluation and structuring offers in detail.
Re: MH Park–help with structuring offer, p.s. - Posted by JoAnne(GA)
Posted by JoAnne(GA) on March 21, 2000 at 12:59:08:
The asking price for the park is $75,000.
JoAnne