Retirement Community Trailer Park 4 sale ( Need help )

I dont know what kind of program I should use with our case ?

Thanks

Paul

paul852 and hello everybody,
paul852 i enjoy your info...That you give!Yes, Most of us know about HARD-MONEY,The question is do you know about...OLD-MONEY and i have the feeling you do know.Look, I do not have the answers for your path in REI and i know you cannot fail;For you have taken,ACTION!!!
I have been thinking about cooking recently...How we try different ideas...But always follow the general recipe.

Thanks for your comments and yes i have thought about the HLM hard lending money and just trying to figure out away to so this so I dont have to pay the high interest for the long term. Good luck with your projects

Warm regards,

Paul T. La Moy

This sounds like it may be a good deal for you. You need to gather all the numbers and determine the cash flow of the trailor park and also contact the town or city to see if there are any violations or issues with the park. I read a few years back how some towns were trying to get rid of trailor parks, so you just want to ensure there are no unknown issues.

It sounds good the owenrs are out of state and motivated. Determine what they are asking and how much they owe on the property. I sowner fianncing an option or would they be willing to hold a second? Also, determin if your current banker would loan money if the current owner holds a second.

This deal could also be considered commerical and you may want to talk to a few commerical bankers in your area. This sounds like a good time to get a list of all the banks in your area and visit each one to find out what they offer in residential and commerical loans/mortgages. Be prpeared when you visit each bank with the normal information you would have, such as tax returns, paycheck stubs, etc., as well as a projection of what you believe this trailor park can do financially on an annual basis. Project revenue and expenses for a 3 year period. The more prepared you are the more you may learn from each banker you visit. I hope this helps. Good luck. Believe and Achieve! - Joe

Thank you Joe and do you mean that I need to do a business plan for that park?
You have a great evening

Warm regards,

Paul T. La Moy

Rosefield again,
Joe is so on point with his input! Something i learned from JOE is...In today's market "We can do 100%,The bank holds the NOTE!!!
paul858,It is your...CALL! I do understand as well,The first step is a Mommy,lol

Yes, you want to put together a business plan and illustrate past performance, current performance and projected performance based on some improvements you may make. If you can show that the park does generate $4,500 or more each month, this should be enough to get some parties interested in financing it. Just gather all your facts and it may lead you to some different options. Good luck. Believe and Achieve! - Joe

Thanks for your help and your support. I do like your sense of humor too !!

Warm regards,

Paul T. La Moy

Joe,

Once again and thanks for taking your time out of your busy schedule to give me some answers. You have a good one

Paul T. La Moy

Hard lending money ? HLM

Thanks,

Paul

Any more thoughts from others ? PLease let me know thanks

Warm regards,

Paul T. La Moy

You'll have to find out their criteria whether they're willing to lend on that type of property. Follow what Joe has said he's given you very good advise.

@Joe: Could you post a sample business plan, regarding real estate, if you have one? Business planning for real estate is totally new arena for me. I & others would gladly appreciate it.

Yes I agreed with you what Joe has said and he is a very bright man. I hope you have a great day and thanks again .

Warm regards,

Paul T. La Moy