Selling 20% ownership in park


#1

Wanted - Investor interested in to purchasing our 1/5th ownership in a 50 space manufactured home park due to health issues. Singlewides. Large upside. Located in a good sized city - 650,000+ pop. This is a great investment for someone that wants to get involved and see their investment grow fast. Preferably hands on. City water, City sewer. 46 homes. Onsite manager. This park has quite a few vacancies and due to health issues I cannot be there to work on the park. $170k. 619-816-5879


#2

What about the other 80% owners? Why are they not managing the park?


#3

State? Cap rate? Financing?


#4

Why not just sell the park outright and offer owner financing on reasonable terms? I think you would get more interest from qualified and experienced people.


#5

Good point but the partners want to keep their ownership. I cannot blame them, it has a large upside.


#6

Memphis. No financing. Fixer park that has a large upside so income is being used to fix the vacant homes. Previous owner had kept up the park but rented homes and let the vacancy slide. He was ill and passed prior to our purchase.


#7

Happy to discuss. Give me a call if the opportunity is still available (732) 421-8358


#8

CLund,

What would my $170k buy me?

ROI?
CAP RATE?
Management?
Etc?

Thanks,

Mike