Like most industry the Seller usually wants too much and the purchaser wants to pay too little for any mobile home park. Certain buyers may have different motivations for purchasing 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 at 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 varieties of real estate can have heard mention of the 3 approaches to determining the value of that real estate. They are the Cost, Sales, and Income Approach.

Unless you are coming up light and portable value of a product new mobile home park or 1 which is predominately vacant, I do not see any reason get a the cost concept. It is not likely how the new mobile home park will be built nearby and what it would cost to build a new park does genuinely take into account the amount of time, effort, and funds it takes to fill that park up with occupied and paying home owners.

As far when your Sales or Market Comparison approach to value, this one other highly suspect. Need to based on comparing the sale on the subject property together with other recent sales and adjusting for differences that you might not know pertaining to. Problems with this approach include varying expenses, rents, and management. Pc an investor or appraiser I would likely use this approach as potential information and not draw any conclusions as a result !.

Lago Vista RV Park

2871 Hwy 72 W, Three Rivers, TX 78071

(361) 436-0845

https://goo.gl/maps/hAfj89yvsshumVqR9

Posted on:
July 11, 2019