SO YOU WANT TO BUY A PARK If you are a first time buyer there are many things to watch out for.
If you have already bought a park you probably have already learned by your mistakes. THINGS YOU NEED TO ASK YOURSELF - Is the septic or aerobic system adequate and in good working order?
- This should be checked out with the state commission that oversees this.
- Is the well up to specifications?
- Also should be checked out with the state or county.
- Do you have at least 20% of the price to put down?
- Are you going to run the park yourself or have a manager?
- It is not that hard to be an absentee owner. I can help you further with that.
- Is the heating and refrigeration in good working order?
- How old are they and have they been kept up in good working order?
- Is there room for expansion?
- Almost everyone would like to see the park expand someday.
- If you expand will the septic system handle the expansion?
- When was the last price increase?
- A $10 increase per month = $6000 per year on a 50 space park.
- What is the reason for people to want to stay in this park?
- What will be the debt service if you buy?
- What will be the cost of fixing up the park to your satisfaction?
- What are the demographics of the area?
- If it is a mobile home park what school district is it in?
- It needs to be in a good school district.
- What shape are the buildings in?
- Are the lots large enough to handle the big rigs in an RV park and larger mobiles in a mobile home park?
- If it is an RV park will it be a destination park or just off the highway traffic?
- Is the area in a growing mode?
- How old are the water and sewer lines and have they had a lot of trouble in the past?
Download these tips
MS Word
Adobe PDF | 
