Re: 55+ 3 Key Factors? Ok. 4? - Posted by Chuck (AZ)
Posted by Chuck (AZ) on July 09, 2001 at 02:26:46:
Maybe my experience/situtation is unique (as I’m in Arizona, that’s entirely possible)… but I’d like to think it’s not just my charming attitude, that’s making me all this nice green money.
Regarding the “rules” of a 55+…
Yes, there are parks that don’t allow pets.
Yes, some parks have higher rents (usually because of their amenities and living conditions).
Yes, some PM’s are inflexable (or at least appear so).
Of course, these same things can be said about alot of family parks.
Putting all that aside, I can tell you that there is a min. occupancy requirement (regarding age) to maintain a 55+ status. In Arizona, the “magic number” is 80%… meaning that at least 80% of the residents must be age 55 or older.
When I bought my 55+ park, there were 6 homes (of the 60 spaces) that were listed for sale. We sold 2 of them last month for cash ($7k and $9k). Two more homes have Lonnie-deals pending on them ($5k and $6k), the other 2 are still up for grabs. The average lot rent here is $230 a month… we’re master-metered and bill back to the resident at cost.
I don’t know what you mean by “extra rules”, but if you care to elaborate, I’ll try to give you some perspective on it.
In any event, do whatever is best for you personally. Just know that the deals are there… if they are persued.