Good evening to all!
I own a 23 lot park in South Louisiana. Being located in the industrial corridor along the Mississippi, the rent is great. I get $325-$350 a week per 16x80 3 bedroom 2 bath. This price includes $200 of electricity plus grass cutting done by my onsite manager and trash service. I purchased the park in June of 2015 with the park only owning 7 of the homes. We now own 14. In the last week I was contacted about a resident that wanted to purchase the trailer he is renting. The trailer he is renting is a mid to early 90 unit that is starting to give me some floor trouble. With that being said, if there was ever one I’d be ok with doing this with, this would be the one. I am asking for advice on how to structure it. Does anyone have any contracts? Do they pay lot rent while paying the note since they are technically purchasing it? If I ask $20,000 for the unit what would you guys do to make this a good deal on my part? Thanks in advance!