Working Partner Wanted-2 Mobile Home Parks & Dealership-Est.$100K Net
Asking Price: | $100,000 |
Real Estate: | $100,000 |
Inventory: | $25,000 |
I own Mobile Homes USA in Fort Myers and purchased this 3AC park in Marion, Alabama from the former Mayor with City Water and Sewer to develop it out with FEMA homes I own or can buy and rehab from my other 13 AC Park with pond in Selma, AL. . I have 9 Spaces with utilities around the right and back side of the park with 3 homes rented and room for 12 Mobile Home Spaces in the left and center for which I need to complete utilities for. I own the property free and clear so we can get a construction loan to develop these. I have a FINANCE company that can fund tenants with only 5% Down -660 FICO score or 10% Down with 550 FICO so we can sell the homes to the tenants and also charge them monthly lot rent. I have a furnished RV on site for my partner or his employee to live in to oversee development.
My other park is located 27 miles away in Selma, Alabama which has 12.5 Acres with a pond that
I currently use for storge and to rehab used mobile homes we can buy from the FEMA Southeast
Distribution facility close by to rehab as needed to flip or put in service in the Marion Park. This has city water only and no sewer and not practical to develop out since each space requires n
individual septic tank- I believe the best use for the property is to have a RV and Mobile Home
Sales Lot there.
https://www.mobilehomeparkstore.com/mobile-home-parks/1363596-rv-mobile-home-park-dealership-and-rehab-storage-facility-12-8-acres-w-pond-for-sale-in-selma-al
I can buy Used 2 and 3 Bedroom Mobile Homes in the per home we sell and receive $500/month rent. I also own a 13 AC Park with pond in Selma, AL which is 27 miles away that has 8 spaces that I use as a rehab and storage facility for used homes and repos. I have homes at this facility now which I have paid appx $5000/per unit for that need some rehab at minimal cost that can be moved to Marion to sell. . I am willing to partner on both properties for $100,000 or Sell outright for $250,000 with Free and Clear Deeds to both
Therefore if we fill all 21 Spaces we should gross over $200,000 in mobile home sales plus
$500 x 20 = $10.000 per month x 12 = $120,000 in annual rent allowing 1 space for a property manager. Total development costs should be in the $50,000 area which we should be able to finance with a construction loan using the property as collateral.
Finally- I have also filed for with the State for a Mobile Home Dealership at this location so we can buy, rehab and sell homes both in and out of the park.
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