Any experienced Georgia park owners have insight on pros/cons for park ownership in Georgia? Looking at multiple parks south of Atlanta for possible purchase and any insight is appreciated!
Give me a call tomorrow. I can connect you with someone. 865-380-3542
Basically when you are out of Atlanta, you are out of Georgia. Georgia is full of scattered small towns. It does have what I would say is probably 4 to 5 decent MSA’s outside of Atlanta. I know that each scenario is different but I have only run up against these 2 issues either area is too small or area might be decent size but there is no realistic exit strategy unless you hold it for a very long time. One area for example is Milledgeville. I guess one owner sold their park there recently and now every owner wants to sell. The parks are a little overpriced but Milledgeville has no real exit strategy. You will hold on forever. Same holds true in areas on the southern part of the state. Athens has some possibilities but its a poor area outside the college. Augusta however is a good area to find a park. I keep looking there. it seems I have seen some parks around Atlanta but they haven’t hit a sweet spot either as they have either been extreme value add or over priced. With all this being said, I think there is opportunity in Georgia and would like to own the right park there some day.
It is a rental market and you have to factor that into your plans if the park isn’t full. This is obviously a generality, but plan for rentals and lease options instead of selling homes outright
Any extra issues with the legalities of owning a park in Georgia as compared to other states in the Southeast?
@JasonS - I owned and managed a park in Atlanta, GA for about 14 months. Let me know what questions you may have and I can likely point you in the right direction.