First off, hello to all. my name is nathan. I have been reading posts here for a little while and i must say YOU GUYS ARE AWESOME. no other forum have i been on where the mods and senior members are patient. everywhere else they just answer questions with answers like didnt you read the 62,000 previous posts, or do a search, or that question has been addressed will be deleting this thread, blah, blah, blah.
So to the point. i have been in construction for 15 yrs, and it has gotten nasty enough that i am sick of it. we are selling our house, for reasons we cant avoid. instead of just buying another home i have been thinking about taking what proceeds are left from the house and buying an income. we where already thinking about increasing our acreage, i now weird, but selling higher priced and buying more lower priced. so the one i am considering now is probably not one you all may would consider, but i think it might would suit me in a number of ways. here we go. they didnt give much info in the ad, so this is what i have figured out.
Missouri:
sale price; 75,000
park owned: 9 mostly older, no idea of rents yet
several small, med, and two large buildings also on property
two ponds
two lagoons
and this is what caught me 32 acres
i know most of you dont care to own park owned, and i am fast understanding why. but there is nothing i cant do(with a home that is). so i dont mind to awefull much the maintenence for a minute. my plan would be to do like most of you guys do and eventually sell them off so as to just own the dirt, and not the headache. then buy more as i can to bring in there, and sell them off too after i plan out the layout. from the pictures i have seen it just looks like a country park that was started before it was thought out. now the perk to me which may differ from some of you is that i also will need somewhere to live. so the 32 acres gives me room (it fronts on two roads, park on one side, and me down the road). since i was planning to get a few acres anyway. i just kinda looked at the trailers as some income. maybe one day it will be 32 acres of park and i will live elseware. dont know what regs are in the country in missouri yet though. if anyone knows somewhere i can go to learn on that would be appreciated. dont know about the owner fin yet. i will worry about that as my closing date approaches. but even if i was to pay 25% down and go 9% for 8 years would be still what we where expecting to do with just a home anyway. alright thats enough for now. so what do you all think.
thnx
nathan