The
MANUFACTURED HOUSING GLOBAL NETWORK
Home     Privacy & Security     Contact Us    
 
What do you want to know about manufactured housing?
Manufactured Housing Web Search
Home Search     Forum Search     Business Search    


Financing   Buy A Home Sell A Home Repair & Renovation Free Classifieds   Forums Books Insurance

Manufactured Homes Communities Norton MA

Recently, a woman wrote to ask me what she should do in considering the purchase of an older community “that is in much need of repair.” She said the current owners were closing the community down. Her concerns were what resources she should consult prior to entering into negotiations, and what legal ramifications there would be for the current residents.

Jim Mulcahy Real Estate Inc
(508) 226-4020
420 Old Colony Rd
Norton, MA

Data Provided by:
Coldwell Banker Hunneman - Papagno Real Estate
(508) 230-2544
159 Belmont St
South Easton, MA

Data Provided by:
Olson, Kenneth - New England Group
(508) 543-3210
10 Commercial St
Foxboro, MA

Data Provided by:
Copperwood Real Estate Inc
(508) 436-4939
425 Pleasant St Ste 4
Brockton, MA

Data Provided by:
Full Service Real Estate
(401) 475-9897
110 Armistice Blvd
Pawtucket, RI

Data Provided by:
HomeBin Discount Realty
(508) 339-5600
154 Copeland Dr
Mansfield, MA
 
Property Bin LLC
(774) 219-8165
P.O. Box 753
Foxborough, MA
Office Hours
by appointment
Prices and/or Promotions
5% Buyer Rebate / Free Home Staging with new listings!

Jack Conway & Co
(508) 697-8300
11 Central Sq
Bridgewater, MA

Data Provided by:
Butterman & Kryston Inc
(401) 521-9490
749 East Ave
Pawtucket, RI

Data Provided by:
Keller Williams Realty Northern RI
(401) 651-1519
628 George Washington Highway
Lincoln, RI
 
Data Provided by:

What to Look for When Buying a Manufactured Housing Community

Buying A Manufactured Housing Community? What to Look For?
Tue 07/17/07 10:03:13 am
from the Chrissy Jackson Archives

If you want to buy an older community that is in need of repair, where do you start?   What do you consider?   To whom do you go to ask questions?   What questions are important?   What other resources do you have to consider?

 

        Recently, a woman wrote to ask me what she should do in considering the purchase of an older community “that is in much need of repair.”   She said the current owners were closing the community down.   Her concerns were what resources she should consult prior to entering into negotiations, and what legal ramifications there would be for the current residents.  

 

        In answering that question, let’s start from the top of the potential purchase, and look at a lot of the different areas that need your attention – and demand answers before you can decide if you even want to purchase the community.   In these times of uncertainty in the stock market, real estate may be a safer place to put your money for an investment, but it has to be a business decision, not an emotional one.   When you look at all the options, the numbers need to crunch properly in order for you to make the investment a wise decision.   Therefore, one of the biggest resources you need to investigate is the ability of the property to meet your investment demands given the financial position you are in.

 

        First, before we even get into the property valuation and general questions, let’s think about your intended returns.   What percentage of return do you want to get on your investment?   How much of the funds generated from your operation will you need to take either as a draw, salary, or return of investment in order to live?   How much of it can be left in the community or reinvested in improvements?  

 

        Obviously you know the offering price of the community.   Is it a fair price?   After you make the required initial investment, how much capital will you have remaining for future improvements or operational shortfalls?   What is the financing structure?   Is the loan large enough for a commercial mortgage?   Or, will the current owner finance it for you after you make the down payment?

 

        When considering the offering price of the community, how did you determine if it is a fair price?   There is a simple mathematical formula that will help you, and will also enable you to determine the appropriate selling price, determined by the rate of return you would like to see on your operation.   This age-...

Click here to read the rest of the article from mobilehome.com


© Copyright 2008 Express Network Solutions
Manufactured Housing Global Network

Page Cached @ Tuesday, 18th January, 2011 @ 02:00am

Served by checkov .xpr.com
@ 02:01:59