And we wonder why...
Working at one of my parks all day today and took a lunchbreak to visit a neighboring park that had been purchased four years ago by an out of state private equity group with out of state management. I was shocked. Absolutely destroyed. No oversight, Trash uncollected and piled up. Multiple irrigation breaks. Talking to residents power has been shut off to the park three times in the last two years while water has been shut off four times- all for non payment by the park. No repairs made to park owned homes. Rents have doubled with autopayment mandated via credit cards. Park management phones and emails disconnected. City has called my maintanance manager twice to go and solve critical water leaks when they can't reach the new owners.
And we complain about unfair journalism and government oversight. When our weakest links operate like this we get exactly what we deserve.
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- Real Estate Broker
- Cody, WY
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Keep an eye on it. They will eventually reach a point where cashflow doesn't meet their needs and they'll need to sell and scurry off to another get-rich-quick scheme. If you are ready, you may pick it up cheap.
- Nathan Gesner
