We have been dealing with a seller on a park that is about as absentee as you can get. After 2 months of digging
I believe we have finally gotten the real numbers on occupancy and condition of the park. Problem is that its a tough
one to price. This park is in a town of 200k with great demand for homes. Our test ads pulled 40 calls in one week. Onsite
manager said he has aps approved but because the owner is so absentee they cant get any answers to sell the homes
108 space park
28 occupied paying tenants
lot rents $345 includes water/sewer/trash
10 vacant homes ready to be sold that we will get the title too.
35 vacant homes that need approx 5k of rehab per home on average
city water and city sewer. no infrastructure issues except some fairly major water leaks.
We were under contract with the assumption there were 65 occupied homes but after all our due diligence we
are now having to recalculate the purchase price due to occupancy being half of what the pro forma was.
Whats the best way to price this mess.