So my fiancee is from Colombia and we are planning to get married in March. After the wedding I will be moving down to Colombia. I have a small decent ran park. 20 lots paying $175/month soon to be $190 on Jan 1. The average in the area is around $225 in Augusta GA. The park is on city water and sewer. In front of the park is a chinese resteraunt that is in a lease where they pay $1,750/month until March 2019. There after they pay $2,250 until April 2024 when the lease expires. The chinese people deposit there check in my bank account monthly and I never hear a peep from them. They maintain the building. My tenants do the same I have a lady who collects the rent and deposits it in my bank, individually with the cents equal to the lot that paid so I can identify and verify all my lots are paying. she only pays $100 a month on lot rent for doing this. I once had it listed on the mhp store website for 650k had several peop’e call and email out of interest but after the pictures and everything got taken down from the site losing data I guess I took it down but still was charged so I don’t think it is still active. With all that being said I am looking to sell the park cash preferred but may finance. What would be the expected value or my sell price to be in order to get the sale complete. I want it sold by Febuary honestly.
Hello there. It looks like your gross rents of 20 lots x 175.00 x 12 months plus the restaurant of 1750 a month x 12 = 63,000 a year. You then need to take approx. 40% maybe a little less out for expenses.
Your park looks like it is worth 400-425k.
If you are serious about selling my group would take a good look at it with more details.
Thanks and call me anytime and have a great evening. Congrats on getting married soon!!
Richard
Thanks Richard, I will be willing to work with any interested buyer. They can reach me via Email at Tommyleeeig@yahoo.com