Differences Between Buying A Mobile home Park Versus An RV Park
Like most marketplace the Seller usually wants too much and the purchaser wants to pay too little to get mobile home softball park. Certain buyers may have different motivations for buying a certain park (1031 money, ability to acquire better financing, conversions to other uses, and location to where they live). In this book we will only look only in the value of a mobile home park for the typical buyer who will continue to operate it as a mobile home park.
Anyone that has seen an appraisal on a house or most epidermis real estate may have heard mention among the 3 approaches to determining the associated with that real personal. They are the Cost, Sales, and Income System.
Unless you are coming up together with value of a brandname new mobile home park or an individual which is predominately vacant, I do not see any reason to be able to the cost tackle. It is not likely the new mobile home park will be built nearby the actual it would cost to build brand-new park does actually take into account the amount of time, effort, and money it takes to fill that park up with occupied and paying passengers.
As far given that the Sales or Market Comparison approach to value, this can be highly suspect. Individuals based on comparing the sale of this subject property with other recent sales and adjusting for differences that you might or might not know exactly about. Problems with this approach include varying expenses, rents, and management. An ideal an investor or appraiser I would just use this approach as potential information and not draw any conclusions out of it.
Lago Vista RV Park
2871 Hwy 72 W, Three Rivers, TX 78071
(361) 436-0845
