TWO TRAILER PARKS WITH 33 RENTAL TRAILERS 700K OWNER WILL CARRY BAL, WITH HALF DOWN 1O YEARS. CASH COW Start Price USD 700,000.00 Current Price USD 700,000.00 Time Left 18 days 22 hours 36 minutes Bid Count 0 Buy It Now Price - Reserve Price - Start Time Friday, June 20, 2008 End Time Thursday, September 18, 2008 Location WEST MEMPHIS AR See more about 'TWO TRAILER PARKS WITH 33 RENTAL TRAILERS 700K ' Description I am offering for sale, TWO trailer parks, with 33 rental trailers, in west Memphis ark. Buy them both or just one. One sits on main street, while the other one is across the street and behind a family dollar store which is on main street, about a block apart. The parks are in the town of west Memphis which is about 8 miles from downtown Memphis Tn. I sold both these parks a few years ago for 850k. The man who bought them had some other business problems and had to let them come back to me. We just took them back over and are getting them back up to shape and renting them out. I will try to cover everything I can think of for you. First, No you can’t see my 1040 returns, sorry, my returns have nothing to do with these parks due to the fact that I didn’t own them for the past few years. The person who buys these parks needs to be a person who can take a look at them and see the money coming in vs. the money going out. If you need to make a bank loan to buy these parks, don’t waste your time. Banks will not loan money on trailers. If you can’t come up with the full amount I will carry some of it. Meaning half down the rest at 6 percent, for a ten year term. These parks are recession proof. Why? Because people still have to eat, and have a place to live. All the people who had homes and have lost them are now having to rent a place. Every trailer we have ready is rented and people are asking everyday to get the next one that comes up.   Let me address the number one question that always comes up, If this is such a good deal then why are you selling them? We ran these parks for around 25 years, just my dad and I. No other workers. Then one day he said he was ready to retire and move on down the road. I said great idea lets do it, he is 70. He owns one park and I the other. My park has made my living for all this time and it afforded me a good one. At 45 I was ready to retire as well. We sold these parks and moved to central America, bought homes and got them set up, and then when the buyer ran into his trouble dad had to go back and take the parks back over and is still there today running them. His wife and the rest of his family are here. So that’s the reason I am selling them and at a reduced price to move them fast so he can come home. Both these parks are free and clear of all debts. All taxes have been paid, there are no liens, on either park or trailers that are being sold with them. They both are free and clear and both have been titled back in our name. Both parks are connected to the city sewer, no septic tanks. Both parks use natural gas, for the stoves as well as heaters. Trailers are older models, one and two bedroom units, which have been kept in good shape over the years. Both parks have room for more trailers if you wish to buy more or just to rent out the spot. We never rented out the spots because we were going to fill those spots with our own. Both parks are up to date and up to code with the city, state and federal governments, even tho both parks are grand fathered caused in. Both parks have had updated sewer lines as well as power lines put in. These are working class people’s parks, they are not fla. Style retirement parks. I rent these units by the week. Each week on Friday dad goes by and picks up the rent. All cash. I have renters who stay one week to renters who stay 20 years. I rent my trailers fully furnished, which means bed, stove, ref, couch, a/c, table and chairs. I also pay power and gas. Why? Because all utilities are in my name, so if someone doesn’t pay their rent on Friday I shut off my utilities. I charge 100.00 per week rent and depending on one or two bedroom trailer I charge ANOTHER, 35.00 to 45.00 per week for utilities. Because I separate the two, rent from utilities, it is legal for me to do this. This way I have very little trouble getting someone out that has not paid me. Most leave within a day or they find my rent money and I turn the power, gas and water back on. The few times that I had to evict someone, they have 10 days to be out and it cost me a 35.00 filing fee.   First park, which I’ll call main street park, has 21 trailers, and has 12 more lots with full hook ups ready for 12 more trailers. Out of 21 trailers, 17 are rented, the other 4 are being worked on as I write this. Now there are factors to think about before you start crunching the numbers. First I rent by the week, some months have 4 Fridays, some months have 5. Also power and gas use. On avg. the 35.00 to 45.00 per week I charge will cover the cost of those, so you can count on 100.00 per week per trailer profit. Power use is the reason I like smaller trailers, like 10 by 45. Plus the smaller trailers are perfect for one to three people, more then that and they need a bigger place. So this plays in my favor. On a four week month you should bring in 6,800.00, 5 week month 8,500.00 coming in now. Utilities on a four week, 140 to 180.00, 5 week 175 to 225.00. Per trailer, which just goes to pay the bills, the 6,800 to 8,500 is your profit. Plus I have rented one spot to a rv which pays 280 to 350.00 that’s lot rent and power combined. Also you have four more trailers once ready will add another 1600 to 2000.00 to your cash flow. As well as the other spots waiting for trailers. You might ask if we had other spots ready why we didn’t add the trailers ourselves? Because my father had other parks and many other companies and with just the two of us to run it all we just didn’t get to it. With the other four units this park should make 8,680.00 on a four week and 10,850.00 on a five week. This park 400,000.00 cash or 200,000.00 down and I’ll carry the rest at 6 percent. On a ten year loan that would be 2,220.41 per month. You can figure around 500.00 per month on upkeep. Also if your not going to be here to run them then you will have to pay a handy man to run the place for you. 2nd park has 13 trailers, 8 are rented the others are being worked on. This park has room for 20 more units. 14 spots have full hook ups waiting for trailers. There is land for 6 more trailers but those will need the hookups put in. 3,200 4 weeks, 4,000.00 on a 5. Coming in now. Utilities are same as above park. 300,000.00 cash, 150,000.00 down 6 percent notes on ten year would be 1,665.00 Once the other trailers are ready, you can add another 2,000.00 to 2,500.00 per month to your cash flow. Now, my dad is the only man working on these trailers trying to get them ready, so if they are ready by the time you buy them fine, if not that’s up to you to do it. Why he won’t hire anyone? Because he is a hard head and he likes things done his way, the right way, not half assed. Luv ya pop.. Had to add that cause he will read this, and when he comes back he lives next door to me.. Ok now before I sold these for 850k. Right now If you add both parks up you will see I have knocked off 150k 700k for both parks. That would be 350k down I’d carry the other 350k bal. And your cash flow would be 10,200.00 on a 4 week month, and 12,770.00 on a 5 week month. Your notes would be 3,885.00. With the remaining trailers fixed and rented, you would bring in 14,080.00 4 weeks and 17,550.00 on a 5 week. Minus around 1k for upkeep. Plus whatever you pay your handyman if needed. Which all are a tax write off. Now I am willing to carry this note for ten years, no more. But if you get a loan from someplace else a 20 year note would be 2507.00, 25 year note 2,255.00 30 year note 2,098.00 and you might be able to get a lower rate then 6 percent. But that’s up to you. The above amounts in rent is what the parks are doing right now, next week that might change plus or minus. He might have another unit ready and rented which would add 400.00 and then he might have a unit move out which would lose 400.00. I’m no sales man, I’m just trying to give you the facts as I know them to be true. These parks are gold mines, but they don’t run themselves, you or a hired worker needs to be there, you might have a kid break a window while playing ball, 6.00 and 20 mins to fix it, you might have someone wanting to rent a trailer, or someone locked out of theirs, you might have a toilet backed up, one plunger and 10 mins, they do take time to keep it running smooth. My goal is to sell these, but also to make sure you make your money so you will be able to pay them off, of course if you go out and buy stock in bear then I’ll be selling them again. This is a very safe investment, you have real property and a really good, all cash flow, and you provide a service that everyone needs. TAXES ON THESE PARKS RUN ABOUT MAIN STREET PARK 1,500.00 PER YEAR, THE OTHER PARK RUNS 1,000.00 PER YEAR. I don’t place ad’s in the paper for open trailers, no need, been here for over 25 years on main street, so the sign out front handles it all. If you have any questions that I have not covered write me at RICOBREEZE@AOL.COM I will handle all questions from here and if you want to set up a date and time to view these parks then I will turn you over to my father to walk you through them. My father will be glad to take a week and get you up to speed on everything in those parks. We use no lease agreements, so there is very little paperwork to do. There is no need for any, I rent these by the week, you pay me you stay, you don’t and I shut the utilities off. When someone first rents a trailer I write on the receipt how many people are to live there, I show rent 100.00 power 45.00, no pets, no over night guest, no baby sitting. They show me a valid I.D. and pay stub, I pick up 145.00 and they get the keys. Not looking to trade for anything, nor am I looking for a real estate person to help me sell these. The price I am asking is very fair and very firm.  Thanks for looking and I hope to talk with you soon. Place a Bid!