Hello Everyone and Happy New Year
I’ve got an off market deal generated through one of our direct mail campaigns. It’s a little complicated and does not make sense for us but I told the seller I would try to point someone his direction.
Here are the details:
Price: $700,000 (We do not have it under contract but have negotiated this price)
Location: Brownsville-Harlingen Metro
Lots: 63
MH Lots: 35
RV Lots: 28
Stick Built Homes: 2
Utilities: City Water City Sewer (Park Pays)
Occupied Lots: ~40 (~28 Mobile Home, 10 RV, 2 SFH)
Lot Rent: ~$350
RV Lots: $250
SFH: $550
Park Owned Homes: 3 ($600 avg)
Additional Notes:
-Seller must 1031 exchange
-Six of the homes are on master meter electric
-It is not the most beautiful park but a good project for the right person
-Seller lives out of state. My experience with him is he is very motivated.
My goal with this post is to have provided as much information as possible. We are asking for a 2% gentleman’s agreement if you close the deal. If you operate in Texas and/or think this deal is right for you please DM.