Posted by Sailor on August 13, 2005 at 18:40:16:
Don’t know your market, & details lacking, but sounds like a lot to pay for a depreciated (used) MH & the right to pay high land rent for a limited amount of time.
Tye
Seasonal MH - Posted by cheryl
Posted by cheryl on August 13, 2005 at 17:20:41:
Can someone help? I am considering buying a 1986 seasonal MH The park is only open May1- Oct 12 in NH. The park fees are 2,850 and the taxes are 600.00 they want 45k my concern as I have never bought one of these is there is no controll on the park fees and you dont own the land It is 4/10 mile to beach however also you cant rent it please help ty
Re: Seasonal MH - Posted by The55+Guy
Posted by The55+Guy on August 13, 2005 at 23:27:44:
Sounds like a RV park, which of course, would make the home a RV Park Model.
Re: Seasonal MH - Posted by Mark Haugsten
Posted by Mark Haugsten on August 13, 2005 at 18:59:11:
Is there a motivated seller who is selling cheaply? $45,000 for the summer is not cheap around here. How about in that park? Do 20 yo homes go for $90k?
What is the purpose of your purchase? I don’t see your buyer bringing you 2x this amount in hours or days. Do you have a motivated buyer?? What return do you forsee expressed in percentages, or dollars.
Where is the cash flow, at all? It seems to me that you want judgement on a personal property purchase. That is a different issue entirely. I suppose it is certainly worth having to many people. Is it a good deal to you?