Updated 4 days ago on . Most recent reply
Seasonal trailer site with industrial lot
Hello. I am looking into purchasing a seasonal trailer site and an adjacent industrial lot with Quonset. Will most likely use the lot for storage of boats and campers. Located in a popular Lakeland resort community. A very short 5 minute walk to the beach and multiple amenities nearby. It has 42 sites ranging in price from 3500-3700 bringing in 148,200 annually. Profit would be around 130,000. Has low expenses and operating costs. Usually fully booked for the summer. He values the park and lot at 1,500,000. Owner would like a downpayment of 400,000-500,000 and will finance the rest at rate lower than the banks could provide. most likely over the course of 15-20 years. I am looking at taking out a loan for the downpayment. It has two wells that provide water. septic is a holding tank regularly pumped I am a mechanical contractor doing plumbing and hvac/r. I already do own 4 rental properties so am already somewhat experienced with real estate. it seems like a very hands off investment. Only open from may-October. You basically collect payment. Start the park up at the beginning of the year. Maintain small repairs around the park, the dumpster pickup, septic pump out etc. Does anybody have experience with this type of investing? It does seem like it would cashflow very well even with the total amount being financed.