Maybe Frank would be open to selling or renting the pads. Break the trailer park down into individual lots, for sale or rent. He’d probably make a nice profit the way things are out there.
And you could have your piece of land. 😎
Maybe Frank would be open to selling or renting the pads. Break the trailer park down into individual lots, for sale or rent. He’d probably make a nice profit the way things are out there.
And you could have your piece of land. 😎
Frank stopped me the other day to talk about this stuff but at the time he thought the place had already been sold. I hope he gets it.
I heard that he only needs two people with 75k or one person with 150 or something as partners.
There are only 8 spaces here, so I'm thinking the rent for 8 spaces to cover a million dollar loan would be about 1k or maybe more.
Come to Michigan and be a Snow Bunny.
My trailer is too big for the spaces I found in Lomita. I spoke with the guy today. It's a 40x20 foot space but my trailer is 42 feet from hitch to the back bumper and they require three feet of clearance all the way around.
Too bad. That was a great area.
Come to Michigan and be a Snow Bunny.
I may do that some day.
Got some news - 2nd hand from two different neighbors. We no longer have to get out. They say Frank (tire shop) went in to pay his rent yesterday and the property management told him we don't have to leave and would notify us.
That's good news. Situation could change though. Might wanna keep looking.
Get it writing or it don't mean shit.
I'm getting my shit together. A few weeks ago I paid off all my debt except for my car . I owe 11k on the car and now I'm refinancing that because my credit is so much better - plus the car probably didn't depreciate at all since I got it.
I cut all of my frivolous expenses after the eviction notice and figured a budget.
I'm going to save and save while looking at properties.
Save and save simply because.
I went to talk with Frank a moment ago. He's the tire shop owner.
He said the property manager told him the place was sold then fell out of escrow. It's still for sale though but no buyer.
Still going to wait it out until the next eviction notice. Just keep saving.
So 8 lots and a tire shop. Ask Frank what he’d pay for the tire shop. Deduct from asking price, divide by 8 and see what your lot is worth.
There’s a deal in this where everyone walks away happy. Get creative. Negotiate.
I did figure that roughly, just as you said.
I'm not sure the lots are allowed to be subdivided and even if they were, me buying one would just make the rest way less attractive to a developer.
I think that’s the point. Divide it like that and the developer threat goes away for your lifetime. Frank’s lifetime too, he gets to keep his shop as long as he wants it.
well the people selling it would never do that.
I could try to get 75k and go partners with Frank on the land, but then the rent would have to go up - but you can't raise the rent on people more than 5 %
The real estate market is going to cool I think. I'll just bide my time and get my own land somewhere.
Do the split AFTER the first deal. Then it's just the zoning commission.
No way they let you split it. You can't even do that around here and we're in anarchy by comparison.
They have lots like this around here that have houses behind houses, or apartments.
take a look around from satellite view. These lots are subdivided all over the place.