Hey guys,
Sweet web site. Well, I am about to make an offer on a park for sale in Kansas with 260 spaces…half empty. It grosses about $450k annually, but has $295k in operating expenses. I believe I can purchase the park for $1.8 million. I have looked over the profit/ loss as well as all the other information the owners have provided. I just seems some of these expenses are too high. $11,500 for liabilty insurance, $3800 for phone, $22,500 for trash, and over $100k in maint. labor. Does sound like a land mine? I’ve never owned a park, and think I could get these expenses under control…am I realistic?
Thanks!!