Posted by The55+Guy on October 20, 2005 at 16:37:16:
Sounds like it to me too.
ARC Auction Update - Posted by The55+Guy
Posted by The55+Guy on October 20, 2005 at 11:55:02:
http://www.mobilehomeparkstore.com/p4sale/sheldon/auction_sheldon.htm
Re: ARC Auction Update - Posted by osupsycho (OK)
Posted by osupsycho (OK) on October 20, 2005 at 16:36:06:
Chuck,
Thanks for the info. I was wondering if you knew which parks are being sold absolutely. I clicked on a few and couldn’t see where it said if it did. I could be just missing it though…
ARC Auction Update- thanks! - Posted by Craig
Posted by Craig on October 20, 2005 at 14:42:39:
I have enjoyed reading your posts to this site and the exchange of
information thus far. From earlier posts concerning this upcoming
auction, you have certainly peaked my curiosity and interest. As you
mentioned earlier concerning over pricing of these parks by either the
auctioneer or bidders; what is your assessement of these parks at the
prices indicated on the URL that you posted? Are these truly worthy
parks to snatch up? What would make these parks a worthwhile
investment? I am looking for insightfullness on your behalf as an
experienced investor to develop a strategy for these properties. Thank
you in advance for any and all responses.
Re: ARC Auction Update - Posted by The55+Guy
Posted by The55+Guy on October 20, 2005 at 16:53:43:
http://www.mobilehomeparkstore.com/p4sale/sheldon/ARC%203%20brochure.pdf
It’s about 5 meg.
Re: ARC Auction Update- thanks! - Posted by osupsycho (OK)
Posted by osupsycho (OK) on October 20, 2005 at 16:24:25:
I can tell you that if you are interested in any of these parks you better do your homework good. Do not accept any of the #s given on either SheldonGood or Loopnet (these are especially off on some).
As an experienced investor I am sure you will do this anyway but just giving a heads up. For example I notice that they list the vacancy rates on one park as of 8/31/05. What is interesting about this is that is right before they pulled a bunch of homes out of the park (somewhere around 10% of park). So that vacancy rate is BS and it is interesting that is the date they picked to use (with good reason aparently).
Some of these parks are probably gems but will take a little bit of polishing to make them shine and need to be bought right.
Re: ARC Auction Update- thanks! - Posted by The55+Guy
Posted by The55+Guy on October 20, 2005 at 15:45:45:
When any company (in this case a REIT), replaces their top 2 operating officers and dumps 1/3 of their holdings (at auction) in less than a year… the question answers itself.
Re: ARC Auction Update (New Info) - Posted by The55+Guy
Posted by The55+Guy on October 20, 2005 at 18:26:34:
http://www.mobilehomeparkstore.com/p4sale/sheldon/ARC%203%20brochure.pdf
If you haven’t downloaded this file yet, you may want to do so… even if you have no plans to attend… page 4 tells a story, and a very interesting one at that.
(cap rate auction)
ARC Update- not sure if I should add - Posted by Craig
Posted by Craig on October 20, 2005 at 16:26:01:
My original query was not meant to be hostile in nature. Let me try
again.
Okay, so the company stopped their dividend, etc. You still didn’t
answer the question concerning a strategy as far as these auctions go.
Is this a fire sale or something that you would not touch with a 10 foot
pole? Are you posting the auction properties to shame the REIT or for
folks information? Is the fervor to own MHPs that brisk that investors
will throw caution and their dollars to the wind in order to get in on
one of these so called deals via an auction? It appeared that thru a
follow up that the auction was not the way to pursue a park purchase.
Just curious.
Re: ARC Update- not sure if I should add - Posted by osupsycho (OK)
Posted by osupsycho (OK) on October 20, 2005 at 16:32:42:
Not to jump into this for Chuck, but it sounds like you answered your own questions with that last statement.
ARC Auction Update- thanks! - Posted by Craig
Posted by Craig on October 20, 2005 at 17:15:19:
Great, I answered my own question. I was reading into the post further
than was necessary. Sorry for any misunderstanding. (I’m still learning)
