This is a park in the state of LA.
Previously the park was occupied by FEMA trailers, now FEMA moved out it sits almost empty.
Here’s the stats:
2 parks, one with 20 space and the other with 61 space. Both are recently upgraded and developed before Katrina.
Lot rent is 180. This is an area with strong rental demands due to the post katrina constructions waves. A 2bed trailer can bring in about 600 monthly income.
The owner has a 590,000 loan on the 2 parks and he wants 160,000(making the total purchase price 750,000)… The park has no paved streets which makes getting new loan difficult.
Since the park is empty, is he asking too much? He is going to run behind his payments if he doesn’t sell these 2 parks.
BTW, I was previously looking at a park in NC but decided to let go since the owner just don’t seem motivated to sell.