I have a family member who is looking to get back into the business…After some devastating financial situations, he’s trying to figure out if he can get into something on the small side (less than 50 spaces) with little or no money down. The best advice that I could give him, is to find an older park owned by an older seller, who is just wanting to get away from the headache managing the business, but with an experienced person to take over and give them a guaranteed monthly income…(and a balloon payment somewhere down the road)…but of course, still do his due diligence on the park before entering into anything
Anyone else have any sage advice on how to find and structure the purchase of such a park?