All Forum Posts by: Frank Gossman

Sorry this is late had some problems: I tank you for your honest and up front evaluation of this park. What I'm trying to do is get a multi/unit with o/f,assume, etc. the units in my area are all owned by llc, or individualls looking to cash out.
Well I thank you again and you have a great wk/nd !!

Hi Everyone: This is for Jim Johnson or any other mobile home investor. On the forum analyzing investor deals could Jim and others go to this forum and let me know what you think of this deal
I'm looking to offer $3,500,000 assume payment and offer the mortgage holder 300,000. Thanks all and I look forward to your thoughts !!

Thank you for the advise !!

Hello Everyone: Please let me know what your thoughts are.
118 unit 55+ mobile home park suncoast of florida spaces occupied 109+ all amenities (no pool).
Made no offer yet
Asking $ 4,500,000
DN $ 1,850,000 to mortgage holder
assume $ 2,650,000 note at 5.95% / 30 term ballon due 2012
GOI $ 498,432.00
NOE $ 200,373.00 = 41.5% +/- GOI
NOI of $291,843.00 less sellers dept service of $ 162,108 $ 13,509 pr/mon
Cash flow $ 129,735.00 or $10,811.25
There is on site laundry, rents are below market, rec.hall,shuffleboard and more.
cap is 6.49 in this area not unusal
There are a few things that can be done to increase the NOI right away to approx. to $ 65/$ 100,000
I personnally feel it is over priced but I would like all your thoughts.

I would appreciate any input you all have to offer and Thanks in advance !!

Hello Everyone: I have a question can anybody give me a heads up or down on a lender known as Crusader Commercial Lending Corp. What was your experience if you used them? I need this asap. In advance I appreciate all the help I can get and Thanks !!

Thanks Guys for all your input I really apreciate your help !! Just great stuff

Thanks guys I'm glad I encouraged you Raz same to you Dory. I will try and apply your thoughts. Thanks again everyone !!

Thanks Raz that was also a great reply GREAT Thanks again !!

I would like to thank everyone for their replys and and your help and yes Curtis I would appreciate the prequal sheet you offered. My biggest obstigal is the financing I like what Dory suggested but I need a good commercial broker hopefully Bradenton,Sarasota area.Thanks again guys I appreciate the help !!

Thanks Mark you and Jon make a lot of sence.Thanks again !!