All Forum Posts by: Adam Dorn

Thanks for the detailed response.

I appreciate it.

This deal is probably a pipe dream now. Looks as if they accepted an offer from another. At least I can still use this as a learning tool.

Thanks again for the help to all.

HAppy holidays.

Is there a separate tax on each homes in your park in NY.

Thought I read or heard that someplace.

For example. I have a park with ten spots and there is a tax on each home in my park of 800/yr. I would have additional costs of approx 8,000/yr.

I have full access to all of the financials.

I believe that there are about 100 lots available with 90 of them rented. 5 were owned by the park.

The occupancy rate had always been close to 100%. I would say conservatively 90% average.

FAmily member has been in the business for 50 years I am using as a consultant.

Long shot to get the finaincing, but I want to get some fo the basics down for when I find somethign that is actually obtainable.

I have to go way back int he memory banks to remember how to do an economic analysis on this so I don't have a calculated ROI, or set cap rate.

I used the simplified rule I have seen on here with # of Lots * Rental Fee * 60 for a quick and dirty estimate of purchase price.

# Lots: 85
# Lots owned by Park: 5
Lot Rent: $300.00
# lot * Rent * 60 = $1,440,000.00


Sewer Muni
Water Muni

Water Bill: Paid by Park
Sewer Bill: Paid by Park

Taxes: $17,000

Buildings: None
Condition: Fair to Good
Roads: Asphault (not great condition)


Purchase Price: $1,600,000

So, I'm a bit confused as to how the calculations are going to determine if the purchase price of a park is ideal, or too high?

ANy help or links to similar posts?

Thanks

I had not thought about the HML's. Probably becasue I have little experience with them.

Thanks. Yes, I meant "conventional" financing.

I was def. worried about the relatively quick turn around on these loans.

Any experiences with tax implications (I know the tax laws are dynamic, but any experience helps).

thanls all

Say I was able to buy a property with traditional financing. I rehabbed the house, and then sold it for a profit all under my name or my LLC name.

I am having a hard time determining if there woudl be any negative consequences to turning it over using a traditional financing route?

thanks all

I was looking at getting some apparel (T-shirts and Polo shirts) made up for my Company. ANy luck with some of the online places out there?

Thanks

adam