MASTER LEASING MOBILE HOME PARK

[Nick Wheeler]

WE ARE TRYING TO PURCHASE A SMALL MHP IN OUR HOME TOWN. THE CURRENT OWNERS HAVE HAD IT WINTERISED AND EMPTY FOR OVER A YEAR AND A HALF. DUE TO THEIR AGE AND HEALTH CONDITION THEY ARE UNABLE TO GET THE PARK BACK UP AND GOING AND ARE WILLING TO SELL. OBVIOUSLY THE BANK WILL NOT LOAN ON A NON CASH FLOWING MHP AND I DONT HAVE THE CASH TO BUY IT, BUT WE ARE LOOKING AT SIGNING A MASTER LEASE TO GET IT BACK INTO SHAPE AND THEN HAVE THE OPTION TO BUY AFTER IT'S OPEARTIONAL AGAIN. HAS ANYONE DONE ANYTHING LIKE THIS BEFORE