PLEASE DO NOT INFORM ANYONE IN THE PARK THAT IT IS FOR SALE.
The property is mortgaged so no owner financing is available.
I'm a fellow bootcamp graduate.
This park was purchased by Dave Reynolds from the original owner. His Phase 1 from 2015 is included below (save $ thousands during due diligence)!
The park is surrounded by single family homes so no changes to environmental status.
Park is permitted for 20 lots.
17 tenant owned trailers ($226/mo)
1 park owned trailer ($350/mo)
1 empty lot (no trailer, all hookups available)
The barn is the 20th lot ($250/mo - electric only)
City Water/Sewer
Water/Sewer billed to park and passed to residents through RUBS Electric and Gas billed directly to residents from Alliance
Great onsite manager is a retiree and gets $150/mo.
All billing is handled via Cozy.co and snail mail, just like Frank suggests in order to correctly assess late charges.
Lots are roughly 50x100
Immediate Upside - fill last lot and raise rents (not raised for 2 years)
I was easily able to secure funding with local bank.
I have 3 years of Schedule C forms I will share to confirm income and expenses.