Looking at a park that a couple rental tenants want to move out of but it’s too much effort. Lol.
Big issue seems to be the septic system. Old and run down. Is it difficult to estimate complete re&re as a worst case scenario?
This could be trouble. The first thing to do is get a complete handle on the problems with the existing sanitary sewer system. Is it old, undersized, poorly constructed, mismanaged, needing a pumping out, overloaded due to additional lots, abused by tenants, subject to infiltration during rainy periods, have an undersized leach field, have saturated soil? Until the scope of problems are understood you will have trouble fixing a cost to make it workable and acceptable. Is it a septic system, aeration pond system, package plant system, aeration ditch system, or some kind of hybrid system? How far away is the city sewer, are you in the path of progress for the nearest city, can you tap into a nearby private sewer system (with capacity)? It can get complicated. Then, if any construction is needed, you will need to talk to the AHJ’s, the authorities having jurisdiction, on sanitary sewer matters for your area. The problem with R&R on something like this is that you will likely get a widely different answer and number from every contractor to which you talk. And always keep in mind how contractors operate and get paid.Jim Allen
Thanks. It’s just a septic. Local plumbers say there is no more room in the park for pipes or fields. I asked if he had heard about above ground mounds yet, he wasn’t familiar with them yet. I took a drive by this place. It’s pretty much a dive jammed between a couple other dives. All park owned dumps.
Why buy trouble? If there is no certain way to determine possible costs–move on life is to short wasting time on dead end streets.
I drove by and it’s truly in dumpy surroundings. Not great for my first deal.
For a first time buyer try to avoid rentals and have at least 25 spaces with a 90% occupancy. Also try to have city utilities to lessen the need for a high learning curve. Once you have 3 years of experience go ahead and ignore the above areas if you are comfortable. Please do not be in a hurry and even try managing a park before buying since some people will find that owning a park is not a picnic but a nightmare. If the property’s value is 20% or more than what your are paying for it is another plus. We have never been only in parks but have diversified in areas to lower risk if one area suffers–what goes up will also go down in the last span of time.