Hi I recently toured a park that is for sale and discovered that while the park is in tremendous condition and in a strong market, the seller has 43 park-owned homes out of 107 sites. While many of the homes are either new or less than 15 years old, the owner finances about 20 of them personally with the tenants, not through 21st or a bank, but himself.
% of park-owned homes aside, how concerning is the financing? The park is in Wisconsin and I don’t know enough about laws here to know if this is legal.
On another note, all of the landscaping (mow lawn, trim trees/bushes, etc.), snow removal, and much of the park-owned home repair is done in-house. How much would you assume for snow removal and landscaping if it was outsourced to a 3rd party?