Differences Between Buying A Rv Park Versus An RV Park
Like most property the Seller usually wants too much and the purchaser wants to pay too little for any mobile home playground. Certain buyers may have different motivations for the purchase of a certain park (1031 money, ability obtain 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 continues to operate it as a mobile home park.
Anyone that has seen an appraisal on a house or most types of real estate may have heard mention of the 3 approaches to determining the value of that real personal. They are the Cost, Sales, and Income Decide on.
Unless you are coming up together with value of a brandname new mobile home park or an individual which is predominately vacant, I do avoid seeing any reason get a the cost concept. It is not likely if you have a new mobile home park will be built nearby exactly what it would cost to build the brand new park does not just take into account the amount of time, effort, and funds it takes to fill that park up with occupied and paying residents.
As far given that the Sales or Market Comparison approach to value, this is also highly suspect. Famous . based on comparing the sale for this subject property to additional recent sales and adjusting for differences that you may or may not know about. Problems with this approach include varying expenses, rents, and management. Pc an investor or appraiser I would certainly 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
