Looking at park in 15k town in 45k metro with 2 Walmart’s. Park has 50 homes with 44 rented and 17 of those park owned with avg lot rent $230. Park is private water with WWTP. There may be option for owner carry, of at least a second. I am going to make offer but don’t want to make initial to sweet…just wondering what thoughts may be on terms and down payment. I was thinking of the %25 down have seller hold note on half and I put in half, then use bank for other %75? Any/all advice greatly appreciated.
No, deal like this typically wont make sense with the park size and being on WWTP from everything I know. There is too much risk in any reasonable valuation on a setup like this. If connecting onto city sewer is an option , maybe that could mitigate some of the risk .
Right…the park is in the middle of no where so no city connection available. The search continues…thank you though.
Is the wwtp a package plant, lagoon… or other type of system? Package plants are expensive to run 40 to 60k a year, then another add another 15 to 20k a year for drinking water operation. These numbers dont count cap ex costs.