Any Suggestions? - Posted by Chaz
Posted by Chaz on July 24, 2001 at 13:13:47:
Here’s what I’m dealing with:
-13 acre property, formerly a 25 site campground. Has a 1200 sq ft clubhouse w/ pool, pond, trees, etc. The well is outstanding and the sewer plant is “rated” at 2500 gal per day.
- 2 SFH on property; one 1250 sq ft, another about 1800 sq ft. Both were used as rentals, one is currently rented, the other recently vacant. Both need work. (nothing real major)
-Property previously had 4 MH (all are gone now) which were rentals
A friend built the campground and lived here. He sold it several years ago and carried a second mortgage. Buyer defaulted and he purchased the property at a sheriif’s sale, thinking that cleaning it up and selling it again was his best bet at getting his money out of the deal.
He needs a little over $225K (total) to do this.
He asked me for some input and, after some investigation, it looked like a MHP on at least part of the property or putting some MH back on the property as rentals might be a good idea. (re-opening the campground is the least preferable option-too much work and too long to wait to re-sell it).
I know the “devil is in the details” but do any of you have some ideas on this place? I think the houses could be split and sold off, leaving the clubhouse, sewer plant, an MH sites.
Thanks for any suggestions