Auction.com will auction a mobile home park in Atlanta, GA on 07/21
Auction.com has made me a pre-auction sale price offer of $1,200.000
Park has 80 spaces, 65 occupied
My wife, Rita and I would like to purchase and operate this park.
I intend to move on site and manage until goals are met
Positives are:
(1) 16 - 18% Capitialization rate,
(2) Additional 72K annual income from billboard
(3) Great location at intersection of Interstates 75 and 85
Negatives are:
(1) Park owned homes
(2) Deferred Maintenance
Rita and I own 15 rental homes in Tarrant County, TX (mostly Arlington) generating about $9100 per month.
All are debt free.
I think I have 70% financing in place. My wife, Rita does not want to use our properties as collateral for the remaining loan.
Is any body interested in participating?
We will send a business plan if interested
Thank You
Wayne Mardis
wmardis@hotmail.com
817-690-2859
