Hi guys; I am having a Dickens of a time here.
I contracted for a very small 10-lot park that was oh so cheap… I could not pass it up! It had all the right parts… city utilities direct billed everything, NO PO homes.
As we are heading to the closing, I discover that the park just lost one of the homes… the owner just hooked up a farm tractor to it and drove it to the country.
The City has a 20-year restriction for replacements… finding a good home, moving it, and setting up is about $15000… the rents are only $125 for each lot (I’d rather not manage rentals this far away… 10 hours)
So, I passed on the purchase. (another buyer is in the wings already). I am just TOO far away to deal with this kind of effort.
Tiny town, BTW, with poor economics…
So, here is my question: If I should I find another park that has the TO homes, HOW can I be fairly secure that they won;t leave suddenly?