TRIED TO BUM A MILLION DOLLARS OFF MY OLD MAN LAST WEEK DIDN'T GO SO WELL
Dad
I found this great opportunity, maybe you would like to go in on it with me?
https://www.mobilehomeparkstore.com/...n-freeville-ny
It is overpriced, but I think we can get them down to the 900k - 1.1 mil range. I will check with $#@* to see if he wants to go in on it too. Of course I will move closer to you and be the onsite manager for a few years to bring the place to the upscale surrounds I'm used to here in Colorado luxury resort living. So don't worry. Once the place is printing money I will start my true dream of opening a medical marijuana healing retreat center in Ithaca.
Can't wait.
Fred,
While I have never considered owning a mobile home park it has been my lifetime goal to live in a trailer so I could enjoy pot luck dinners of squirrel or raccoon with my neighbors and drink malt liquor encased in a paper bag while sitting by a blazing metal trash can fire pit.
My clients who owned rental real estate believe that the maximum price an investor should pay for rental property is six times pre tax net income. Based on that principle a cursory analysis would indicate that the asking price is a mere $1.6M overpriced. So. attractive as it may be to attempt to collect monthly rents from unemployed , dentally challenged , mullet wearing tenants I'll have to pass on this opportunity.
More concerning to me is the fact that you're looking into local real estate. I hope you're not considering moving home. If so, give me advance notice so I can have your next residence ,{ our storage shed,} wired for wifi and an 85 inch smart TV installed.
Dad
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