0 to 87 Trailer Park Pads In Only 115 Days!

Our company just bought 3 mobile home parks all within 115 days for a total of 87 pads. We went from 0 tenants to 12 tenants then now to 33 total tenants and now we have begun to grow rapidly yet become so busy we couldn't do it all.

We have been so busy in fact we had to stretch the budget beyond comprehension and hire a few really good guys to fix up these trailers at a rapid pace.

Here are the numbers on what our 1st Trailer Park purchase looks like:

Purchase price = $152,000.00 (commercial lender)
Down Payment = $30,000 -was borrowed money, lol
Gross monthly income @ purchase = $900.00 (3 tenants)
Gross monthly income @ 90 days = $3,100.00 (6 tenants)
Mortgage Payment = $940.00/month
Expenses = $2,700.00/month
Cash Flow = $400.00/month
Total Pads = 18 pads (80% vacant lots)
Price per pad = $8,500/pad

1st Park came with 2 huge buildings totaling over 6,000sq-ft!
-I have pics of the pole building in my other Blog Page too-

This first park was mostly vacant upon purchase -seller wanted it gone - was a headache for him. He had just 3 paying tenants upon purchase.

What we have done with our 1st park is quite amazing especially since we tripled the gross income within the first 90 days!

Below is what our 2nd Trailer Park Deal looks like and unlike our bank financed 1st park we secured a seller financed deal and the numbers look like this:

Purchase price = $225,000
Down Payment = $25,000 -was borrowed money -pushed our expenses up a lot
Gross monthly income = $4,000 (temporarily) -going up after we develop other 6 lots
Mortgage Payment = $2,000/month -for 11 years
Expenses = $3,300/month (temporarily) -will go down over time
Cash Flow = $700/month
Total Pads = 12 (6 developed and fully rented -6 undeveloped pads)
Price per pad = $18,750/pad

Buying that 2nd Trailer Park really taught us a lot and as a matter of fact we were actually buying both our first and second mobile home parks at the same time as one was a bank financed deal and the 2nd and 3rd parks are both Seller Financed Deals!

It felt really good to be buying both of these parks at the same time and the closing dates were only 2 weeks apart! Lets just say we has a few nervous moments in the last 2 weeks leading up to the closing dates, lol..yet it was super fun too!
-closed on 1st park June 2019
-closed on 2nd park July 2019
-finishing deal on 3rd park -October 2019

Below are the details to this 3rd Trailer Park and just like our 2nd Park we were also able to secure it as a Seller Financed Deal!
This 3rd Trailer Park we bought has some very amazing numbers that come
along with it!..and so great in fact..this is a "Deal of Lifetime" and the
terms and conditions show how great this deal really is!

Here are the Amazing Numbers: (these are real numbers)

Purchase price = $195,000 ($245,000 with new plumbing)
Down payment = ($25,000)
Gross monthly income = $6,000/month
Mortgage payment = $1,500/month
Expenses = $3,400/month (will go down rapidly)
Cash Flow = $2,600/month
Total pads = 57 - State Licensed Pads
Price per pad = $4,300/pad
3 year payoff in full to Seller

This 3rd park needs almost $50,000 in plumbing repairs! (not scared, lol)

- The Seller Offered To Fund The Plumbing 100% >!!
- And not only fund it -he is going to add the plumbing expense to our end balance!
- Almost sounds too good to be true yet it's not, lol

I offered to split the cost of the plumbing and so he says..ah..just put 25k down instead of 20k yet he didn't seem to concerned about the extra $5,000 and he is happy the park is going to the right person who will fix it up nice!

It was thrilling to work a deal with this Amazing Seller and we continued to get along great during our whole 40 minute conversation. As a matter of fact, we sealed this deal up on our very 1st phone call together and we never talked or text before that only afterwards...crazy huh?

This trailer park owner guy is a high up banker so he really gets these numbers too, lol. I just about fell over when this Amazing Deal Came Along!

During the purchasing process we took a stroll thru the 57 pads and ran into a young guy who was glad to share information to us about the park so we learned a lot at that time and learned who is getting kicked out and why and it was a super fun talk, lol

Summary:

The total our companies have paid out to acquire all 3 of these parks is around $627,000 in total purchase prices and if you divide it down by/87 pads it equals = $7,200/pad average yet don't be fooled cause as you can see in the numbers the 3rd park we purchased makes it a "Deal of a lifetime". There are several little things and a couple really big things that make it a very special deal!

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...thanks for your patience and please check back frequently as we have more to write in over the next few days...