Deane’s road trip – Part II
Resident mobile home park purchase transactions (“the Deals”) have several general characteristics:
Park Stories
You Can Do It!
The following are excerpts from a talk given by Deane Sargent, from PMC Financial Services, at the November 20, 2012 HOA meeting. The excerpts were transcribed by Bill Schlegel (HOA President)
Sorry, I have been busy
I have been really busy closing a resident park purchase transaction. Such transactions not only take a lot of time, they are also very important since it might be the only time the group gets the opportunity to acquire their park.
The Southern California Basket Case
There is a small (50 or so homesites) low-income park in suburban San Diego, California. The resident group purchased the park about 10 years ago using a commercial real estate loan, a second mortgage loan from the local municipal government and some resident equity. The resident group operated the park, more or less successfully, for … Read more
Park Stories – The Ground Rules
Occasionally someone calls me ‘out of the blue.’ They may have a question about resident mobile home park ownership, or they may be in a park with a problem. Although I am always willing to talk with them, sometimes I can help and sometimes I can’t. But often the situation is interesting and … Read more