Posted by Don-NY on June 18, 2010 at 10:56:43:
Heaven forbid they have to get rid of ANY of their various animals so they can keep a roof over their heads.
Too late now - We own the park - Posted by Larry
Posted by Larry on June 13, 2010 at 09:59:02:
Just kidding with the title but as Ray Alcorn describes the point of ownership in his “Dealmaker’s Guide to Mobile Home Parks” …" That moment is sometimes a bit giddy, and sometimes a bit scary. The neat part is you OWN it…and the scary part is YOU own it.
Mostly giddiness here and thank you to those who responded with some questions I had during the due diligence. The park is a 26 unit park with about 55% occupancy and 25% tenant owned homes.
We are already well established with property management of rental homes but have no “real world” experience with park management. Just a lot of reading; so we are looking forward to getting this park turned around and moving in a positive direction.
Right now I’m working on park rules and modifying our rental agreement for straight lot rentals to go have a “friendly visit” with all the residents. Any references are tips on those items or park management in general would be appreciated.
PS Anyone ever purchased a park with horses tied in front of a home?
Horsin’ around - Posted by Dr. B. (OH)
Posted by Dr. B. (OH) on June 13, 2010 at 12:15:56:
Congrats Larry on the park.
I’m guessing your park is named Ponderosa.
Can you buy the horses wholesale and Lonnie deal them?
Can you hitch up a wagon and charge for hay rides in return for allowing the horses in the park?
Are they strong enough to pull any junker homes over the nearest hill?
Does Miss Kitty run the saloon at that address?
Steve
Re: Horsin’ around - Posted by Larry
Posted by Larry on June 13, 2010 at 12:48:29:
I think these are “show” horses. They may have been stabled in the home but I don think they would get along with the 13 dogs living inside.
Breaking development: Tenants are moving because they cant afford boarding fees AND rent.
PS I exaggerated on the number of dogs, I think its less than 10. 