Mobile Home Park Community
for Sale $420,000.00
Recently Reduced to $400,000.00

1 Brick Ranch – Manger occupied
20 units in place 20 currently occupied
5 units community owned
           5 unit’s current under rent to own agreements for additional cash flow

General Information

The Community is located in western Maryland in the middle of a State Park that is heavily wooded. It is 5 miles from 3 major metropolitan cities with convenient highway access.

The community is supported by a self sufficient water and septic system that has been redesigned and installed; this includes 4 wells that tie into a pump station that has been upgraded to protect well water levels and water quality. An extra water holding tank has been installed to maintain sufficient water levels to support the community and increase well pump lifespan. 2 new well pumps with well casing recently replaced.

Main water supply lines as well as all lines linking homes into the water system have been replaced; this includes individual home water meters, shut off valves at each home as well as strategically placed shut off valves to minimize outage impact to community. This system comes with 100% warranty. The Community was supported for 9 years on one septic Field, and recently (Feb 05) was increased with an additional Septic Field filter system to operate more efficiently. The system now has the capability to switch between two field systems to increase longevity of the field allowing septic field recovery periods.

With annual Net income projected at $45K, The sale price of $420K provides a 10.80% ROI. As of 12 Sept 05 to stimulate the sale, I am decreasing the Sale price to $400K, bring your ROI to 11.34%. (see cash flow statement below)

Revenue has room to grow through home ownership and note income. Market allows for $200 principal & interests to be paid for each home. This allows your note income to grow by $3,200 monthly. That’s an additional $38,000 a year. Current Gross is at $61K + $38K will put you in an almost $100K annual Gross income position. (see cash flow statement below)

The goal for all of the improvements has been to design and improve the quality of this community to prevent future infrastructure investment. This community is now positioned and currently producing positive cash flow to support the sale price.

Management and Operation

The Community is managed by an onsite Manager at reduced rent and has committed to continue under new ownership with his agreed upon roles:

·         Collects residents monthly Payments due to Rocky Gap Living LLC·         Is the first line of contact for other residents to notify owner of resident issue/s.

·         Operate as an independent contractor.

·         Read and record water meter readings on a Quarterly basis

·         Report any unusual activities or dis-functioning onsite items that may need attention.

·         Maintain the functioning water system by checking pump house operability and water levels to be in acceptable levels

·         Allow access to the pump house by county and vender officials for monthly and annual water studies.

·         Mow lawn for “common areas” defined as vacant unattended areas where residents are not responsible, within the community

·         Plow community roads when necessary utilizing on site plow provided by owner

·         Receive and acquire tenant signatures on all leases as required

·         Attend eviction hearings for Rocky Gap as needed

·         Placing ads for mobile home sales and rentals, fielding phone calls in response to ads as well as providing home walk through as needed

·         Coordinate Quarterly septic tank contractor to empty tanks as necessary or as needed, on this quarterly schedule included is the cleaning of the Septic field filter once a quarter.