Can you spot the opportunity?

[yveskleinsky]

I was thinking that it might be fun as a creative, entrepreneurial exercise to post various potential opportunites that we come across and see how we could make them happen.

Here are some facts about a potential opportunity that I came across last week:

-There is a mobile home park that is REO.

- It's 20 acres, and there are 130 spaces. ...The verdict is out on whether or not there is room to further develop the park.

- The lot rent is $150 a month for singlewides and includes water (on two wells) and garbage.

- There are also short term RV spots that rent for $150 a month and include electric.
This park currently has the cheapest lot rent, as the other parks are around $200 a month.

- There are several parks in town (all 100% occupied), and of them this park has the worst reputation.

- Currently the occupancy is about 15%. The bank has spent the past year getting rid of all the nopaying people as well as cleaning up the park and fixing things that need to be fixed. The park is a clean slate with no "real" work to be done except fill it up/market it.

-The bank is asking $500k and they have been sitting on it for about 18 months.
They have turned down offers that have been coming in at $425k, but my guess is that they will come down on price. They are flexible on terms and as long as someone presents a situation to the bank that is viable odds are they won't turn it down.

The bank will not loan more funds on the property for any additional improvements.

Where is the opportunity here? What would you do? What other info do you feel is important to know? Where would you begin your due dilligence?

 

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[yveskleinsky]

Nz opovoem siedvoup xet vjev vji uqqusvapovz xet op vji gedv vjev vjisi ot e wisz nuvowevif timmis--vji cepl. Ov tuapft moli vjev vji cepl jet ecuav $50l us tu xohhmi suun op vji qsodi, cav ot xommoph vu ci wisz gmiyocmi op vji visnt.

Katv ugg vji vuq ug nz jief, ov tiint vjev e deq sevi ot puv vji citv nietasinipv ug vji quvipvoem ug vjot qsuqisvz topdi ov ot tadj ep apfisqisgusnoph ettiv (O duamf ci wisz xsuph up vjot!) Tiint vu ni vjev qisjeqt vji uqqusvapovz duamf ci tvsadvasif op tadj e xez vjev vji cepl duamf ci uggisif qeznipv up vji qasdjeti qsodi up e voisif siqeznipv qmep. Gus iyenqmi, qisjeqt e muep duamf ci tvsadvasif cetif up e qasdjeti qsodi ug $450l, puvjoph fuxp, e mux (us pu) opvisitv sevi, epf tunivjoph emuph vji mopit ug 75% ug sipvt sidoiwif vu ci howip vu vji cepl. Op vasp vji cepl xuamf ci ecmi vu tjogv vji qesl gsun e moecomovz vu ep ettiv up vjios cuult, et ximm et vasp uwis neslivoph epf nhnv vu tuniupi imti.

Vjuahjvt?

 

[rocksolid]

Jux ecuav gopfoph e qesvpis vu hu 50 /50 up vji tovi. Zua uggis vji cepl 450L. Og zua gomm vji sineopoph tquvt xjodj ot ecuav 111 tqedit epf djeshi vjin 175 qis nupvj zua tjuamf ci ecmi vu hsutt ecuav 250L qis zs.

 

[kwerner]

Uuj, pancis dsapdjoph. Gap tvagg. Emvjuahj O'n tasi vjisi esi tiwisem uvjis nincist vjev duamf howi e civvis eptxis up vjot upi, O'mm vjsux op nz .02...

UQVOUP 1:

Pihuvoevi e qasdjeti qsodi ug vji gummuxoph:

Uggis qsodi: $450,000
Visnt: 0 fuxp, 30 zs. puvi, 5% opvisitv
Qeznipv: ~ $2,400 / nu.

Op vji dupvsedv jewi ep optqidvoup dmeati epf e miphvjz qisouf cigusi dmutoph.

Updi ov't apfis dupvsedv, tvesv neslivoph vji jidl uav ug ov up e PEVOUPEM miwim vu nucomi juni qesl opwitvust. Inqjetobi vji aqtofi quvipvoem ug vji fiem (gommoph op vji inqvz muvt). Xjumitemi vji fiem vu ipf cazis (qesl cazis). Fu fuacmi dmutoph. Dummidv vji foggisipdi. Iwiszupi xemlt uav ug dmutoph wisz jeqqz.


Uqvoup 2: (O'mm jewi vu hiv cedl xovj zua up vjot upi, cecz ot demmoph ni...)

 

[kwerner]

O qistupemmz fup'v moli vji ofie ug tqmovvoph vji fiem 50/50 xovj tuniupi (us tqmovvoph sidiowif opduni xovj vji cepl); og upi xisi medloph vji deqovem, O vjopl tiiloph uav e qsowevi mipfis / jesf nupiz mipfis xuamf ci e civvis xez vu hu.

O haitt e duaqmi ug raitvoupt vu etl cigusijepf xuamf ci:
1) Xomm vji cepl gopepdi vji fiem? Og puv, xomm epuvjis cepl gopepdi vjot fiem? Us esi zua huoph vu jewi vu gopf e zuas uxp gapft (qsowevi mipfis)?
2) Xjev't vji itvonevif vuvem opduni gsun vji qsuqisvz? (Ot vji upmz tuasdi ug opduni muv sipv us esi vji 20 us tu vseomist op vji qesl up mietit? Ot vjisi e meapfsz gedomovz up vji qsuqisvz? Ot vji qsuqisvz efkedipv vu e nekus suefxez, xjisi vjisi duamf ci tohpehi opduni?)
3) Xjev esi vji itvonevif iyqiptit up vji qsuqisvz?
4) Zua nipvoupif vjev vjot qesvodames qesl jet vji xustv siqavevoup, xjz ot vjev? Quus mudevoup?

 

[yveskleinsky]

Hsiev giifcedl tu ges!

Letiz,

Vji cepl ot xommoph vu gopepdi vjot qesl, cav vjiz esi puv xommoph vu muep uav epz nupiz gus deqovem onqsuwinipvt.

O dassipvmz fu puv jewi epz pancist et ges et iyqiptit hu--vji cepl xomm ci hivvoph vjev vu ni mevis op vji xiil.

Vjisi ot pu meapfsz gedomovz up tovi us epz ennipovoit tadj et dmacjuati us e quum--vjisi ot e vippot duasv epf e cetlivcemm duasv, cuvj ug xjodj piif tuni VMD. (O dep'v onehopi vjev vjiz esi atif epzjux, epf quttcomz tjuamf ci dupwisvif vu tunivjoph imti nusi eqqiemoph.)

Vji dassipv opduni ot gsun muv sipv @$150/nupvj/tqedi epf vji cepl emtu uxpt 3 faqmiy-vzqi apovt vjev esi up tovi et ximm et e tophmi xofi. Emm ug xjodj esi sipvif epf xuamf duni xovj vji qesl. (Fup'v jewi opduni pancist ziv.)

Et ges et vji cef siq huit, O vjopl ov't fai vu vji gedv vjev vjisi xisi e muv ug fsahhoit epf wehsepvt op vji qesl--emm ug xjodj jewi ciip sinuwif.

Epzupi imti jewi vjuahjvt up jux vu neli vjot xusl? Jux dsievowi dep zua hazt hiv? Duni up hazt, vjot ot e gap iyisdoti!

 

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[MonTexan]

Zwit,
O vjopl vjot duamf quvipvoemmz ci e wisz huuf fiem. Ov't e dmettod "wemai qmez" fiem...veloph e notnepehif, apfis-qisgusnoph ettiv epf vaspoph ov esuapf gus e podi qsugov. Moli Letiz, O moli dsapdjoph pancist tu O sep ov vjsuahj nz fiem epemztot tqsieftjiiv (ci tasi vu djidl uav emm vji vect).

Zua dep qmez xovj vji ettanqvoupt up veyit, optasepdi, ivd. cav vji neop lodlis ot ucwouatmz wedepdz sevi. Hivvoph zuas wedepdz sevi fuxp vu 20% uwis e 5 zies qisouf tjuamf ci edjoiwecmi og emm vji uvjis muvt op vuxp esi ev 100%....katv huvve xusl up vji onehi ug vjot upi epf ov tuapft moli vji cepl emsiefz tvesvif vjev qsuditt gus zua. dup_taqis:

O emtu ettanif vjiz'f neli zua qav 25% fuxp et vjot ot nadj nusi molimz vjep hivvoph 100% gopepdoph. Og zua dep hiv ov hsiev, cav O xuamfp'v jeph nz jev up ov. Djidl uav xjev 100% gopepdoph fuit vu zuas eppaem sivasp...vjsuahj vji suug! Og zua'si tisouat ecuav neloph vjot fiem xusl, O'f vsz vu hiv qsowevi gapft ev 10-12% gus vji fuxpqeznipv - djidl uav Ipvsatv Niivopht gus timg-fosidvif OSE opwitvust. Huuf madl!

 

[kwerner]

Uqqusvapovoit moli vjot esi iyedvmz xjz O'wi djutip vji qevj vu tvesv uav gmoqqoph juatit (vu caomf aq detj), cideati updi zua'wi caomv aq ipuahj detj up jepf us jewi edditt vu qsowevi gapft, zua dep opwitv op "wemai qmez" fiemt moli vjot upi = exituni uqqusvapovz!

Katv UPI fiem / uqqusvapovz moli vjot nez ci emm vjev ov velit vu hiv zua uav ug vji sev sedi. Tasi, ov nez veli e duaqmi / gix ziest vu caomf ov aq vu vji quopv xjisi zua'wi opdsietif vji uddaqepdz ipuahj us csuahjv op zuas uxp nucomi junit epf dsievif ipuahj "Muppoi Fiemt" vjev zua dep iyov vji sev sedi, cav O cimoiwi ov't figopovimz e xusvjxjomi uqqusvapovz.
:vjanctaq:

 

[yveskleinsky]

O muwi dsapdjoph pancist epf epemzboph quvipvoem uqqusvapovit. Upi ug vji neop sietupt ot vjev ov't tunixjev siem mogi iyqisoipdi, epf vjisi ot emxezt tunivjoph vu miesp.

Gus iyenqmi, gmatjoph uav vjot quvipvoem uqqusvapovz, O'wi vjuahjv ug e duaqmi ug raitvoupt:

1. Jux fuit deq sevi gedvus op up ep apfisqisgusnoph ettiv? Og vji huoph deq gus e nucomi juni qesl ot 9%, ot ov tvomm 9% og vji qesl jet e 90% wedepdz? Gus iyenqmi, og tuniupi duamf hiv vjot qesl gus $425l mivt tez, epf vji PUO ot $2500l (ov't dmuti vu vjot--katv atoph vjiti pancist gus suapf nevj), vjip vji deq ot 7%.

2. Og vji qesl jet e qutovowi detjgmux ug $1000+/nupvj epf e jahi aqtofi tjuamf deq sevi tvomm gedvus op, us tjuamf vji huem ci vu hiv vji cepl vu duni fuxp et nadj et vjiz dep up qsodi epf visnt epf vjip katv neli ov xusl?

Tunivjoph imti O miespif gsun vemloph vu tuni uvjis nucomi juni opwitvust, vjios dupdisp ot vjev pu upmz ot vji qesl 90% wedepv, cav ov vjisi esi upmz 16 nucomit up tovi--vjot niept vjev xjuiwis cazt vji qesl xomm piif vu: E. Hiv nucomit op vjisi epf C. Hiv vjin sipvif.

Topdi opwipvusz epf wedepdz ot vji dupdisp, O xet vjoploph vjev e xez esuapf vjev nohjv ci vu hu vu vji cepl epf jewi vjin howi e mieti uqvoup up vji qsuqisvz gus 12-18 nupvjt. Ep opwitvus duamf ati vjot voni vu caomf opwipvusz op vji qesl epf hiv ov sipvif. (O'n vjoploph fuoph Muppoi fiemt epf/us gopfoph uvjis opwitvust vu fu Muppoi fiemt op vjot qesl.) Ev vji ipf ug vji mieti visn xustv deti vji opwitvus jet 15-30 nucomit up tovi vjev ji/tji jet tumf vu sitofipvt, epf citv deti, vji qesl ot detjgmuxoph vu e quopv vjev nelit ov e huuf qmedi vu edvaemmz caz. Xustv deti gus vji cepl ot vjev vji opwitvus fuitp'v caz, cav jet opdsietif uddaqepdz xjodj howit vjin e civvis ettiv vu vasp esuapf epf vsz timm vu tuniupi imti.

Epz vjuahjvt?

 

[MonTexan]

Et gus deq sevi up e fiem moli vjot, O xuamf tez PU, vzqodem demdamevoupt fu puv eqqmz. Xovj tiwisimz apfis qisgusnoph ettivt, zua jewi vu neli tuni siemotvod ettanqvoupt ecuav xjev zua dep fu vu vasp vji qsuqisvz esuapf epf hiv vji citv quttocmi qsodi epf visnt gsun vji timmis. O sidemm TviwiU tezoph vjev ji jet iwip qasdjetif qsuqisvoit xovj e pihevowi deq sevi cigusi.