I am looking at a small park, 30 spaces. Almost 100% are park owned homes. The park just started a rent to own credit program a few months ago. I can value the park, but I am not sure what value to place on the homes. The park owner has them valued at about the same amount as the park (making the purchase price about twice what I would pay if I could just buy the park and the tenants already owned their trailers). How should I determine a value for the trailers?
I don’t have concerns about financing the park, but how difficult will it be to get a bank to finance the homes?