Posted by Eric C on July 09, 2001 at 24:08:18:
Hi John -
I sure haven’t heard about any loans at the rates you mention. If they exist, I would assume there is some large component of gov’t involvement which is usually a pain in the #$$.
I mean, well run parks may be great investments, but I sure wouldn’t be in a rush to loan money at 4.5 to 5 percent when I can buy bonds, CDs, or other less risky instruments. Of course, the gov’t may know better. After all, it’s not really their money, is it?
I would like to hear more about your park. What is your situation exactly? Are there condo’ed parks in your area (where the tenant owns their lot)?
Who would be responsible for the park itself? An owner’s association of some type?
Just curious.
Good luck in your search.
Eric C