Thinking of selling turn around park


#1

I bought a small park in Jan 2017 and have put all the income back into the property. I fixed all the issues and the value of the park has increased 80%.

As a buyer, Id look at that and wonder if its all smoke and mirrors. Is the park really fixed. How would you convince someone its not a money pit and is truly fixed? How much history would you need to see that it is fixed?


#2

Two years is what most banks I have dealt with would want to see…not sure how much traction you could get prior to that… Congrats on finishing your turn around!


#3

I would suggest a new full appraisal. I’ve recently done exactly what you just talked about. We went from a purchase price of $650,000 to a new appraisal of 1,415,000 11 months. The story holds water, but to read through the details of the appraisal is very convincing.We turned down an offer of 1.2m.
The appraisal cost $2500. It was well worth it.


#4

Where is the park please?


#6

Upstate South Carolina.


#7

Thoughts on the park? Is the size/cost what you were looking for?


#8

Interested in purchase and I would like to get more info on the park. Please email me rentalhomes94@gmail.com


#9

Thank you but right now I’m focusing one in Asheville.