Posted by Ernest Tew on June 03, 2000 at 09:19:56:
My suggestion is that you keep in close touch with the owner, asking him to give you first chance at it before doing anything with anyone else. If necessary, offer more money. If the deal is as good as it appears, it’s better to pay a little more than take a chance on losing it.
Once you get the property, you can significantly enhance the value by fix-up work, adding rental spaces, and possibly increasing rents.
With a little creative structuring, all the increase in value can be tax-free. If you need to know more about how that can be done, call me at (352) 475-1800 or contact me by e-mail.
Remember the little mobile home park? Lonnie, Ernest and Ray - Posted by d.henderson
Posted by d.henderson on June 02, 2000 at 16:46:16:
Hello All,
At Atlanta, I went to each of your tables and ask you about a tiny little mobile home park in Texas that was just neglected. Has 12 acres(9 more acres that connect to the river, beautiful) and only 8 spots with sewer and electricity, only 6 mobiles that pay. It’s out side of the city limits with large oak trees and a large pond for fishing. The people that have this is getting older and don’t want to deal with it anymore and not taking care of it. It’s not kept neat, so it’s like everyone has forgotten about it.
It was listed for 29K, needs a lot of clean up and probably two mobiles need to be removed.
I started checking taxes, rent, all that I could and the owner took it off of the market, said he had to get the title cleared up because it was on homestead land.
Put it back on the market today for 25K? I called offered 15K contingent on financing, inspection and left a check for ernest money. Now the wait. smile
BTW all of you, Lonnie, Ray, and Ernest told me that it would be a good one to look into.
Thanks to All and any guidance would be appeciated.
always learning,
Dee-Texas
Re: Remember the little mobile home park? Lonnie, Ernest and Ray - Posted by Lonnie
Posted by Lonnie on June 02, 2000 at 20:02:49:
Hi Dee,
Sounds like a good little “sleeper”. With a little elbow grease, this could be turned into a nice money maker. Go for it.
Good luck,
Lonnie