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Contact Information Steve Raleigh
Park Location Laingsburg, MI  
Maximum Home Size 16 x 80  
Lot Rent $300  
Quality of Park D being upgraded to B  
Lot Sizes varies but most will hold 70' homes  
Age Requirement of Homes 1985 and up  
Lot Spred Delta ( $495-Mthly Lot Rent) $195  
What Utilites do the tenants pay EGTC  
Average Cost of Utilities    
What cash incentives are you willing to give someone moving in need more discussion with Dave and Frank  
Reduced Rent or % after Home Sold    
For How Long    
Will you offer No rent if Vacant Yes - 3 mths then maybe 1/2 for 3-6  
Offer "Done for You" Preferable  
Do you have homes for selling or giving to investors Yes  
If so, how many 3-5  
Terms Have yet to determine junkers from rehabbers.  By July
Deposit w/in-house financing
Are there homes for sale in the park POH - All owned by the park and sold on a lease to own program.  Lot rent is kept separate from the home monies.  No comingling of funds.  Owner is about to commence a major revilalization in the park to include disposal of many homes and bring in new to be owner financed or hoepfully (preferably) investor financed.  
Average Home sale price in park Questions to vague  
Do buyers typically pay cash or terms terms  
Average 2 bd Apartment rent based on sale of home  
Average 3 bd Apartment Rent based on sale of home  
How much of a down payment do you est. buyers have $ 1,000 - $3,000  
How many calls per wk do you get for home- rent or sale 3-4  
Are there many homes for sale in your market saturated  Michigan  
Describe average price of homes 1970-2000 1-4 bdrm    
Is there someone onsite Yes  
Manager or Owner Manager - Husband & Wife Team  
Will they - Show Homes Yes  
Sell homes Yes  
Collect Rents Yes  
Rehab homes Yes  
Credit Background checks Yes  
Are you willing to Purchase home notes if needed Yes  
I have 40+ yrs experience in the apartment RE field. I am a licensed Commercial General Contractor and Licensed Electrical Contractor in 8 States. Also a licensed MH dealer in MI and applying in Fl. New Commercial Construction and capital improvements and revitalizations to existing large commercial assets is my specialty. From design concept, through permitting and entitlement to turnkey construction. I am happy and willing to share the profits "fairly and equitably" with investors with plenty of lateral leeway to make it work for both of us. (prefer as few investors as possible to minimize  handholding as a full time occupation instead of owning and running MHP's) I prefer not to introduce outside sub-contractors through investors onto my property (willing but prefer not to) based on proper installation compliance and liability issues (W/C & G/L). Requires oversight along with insurance certs, permits and inspections. It will be difficult to find an investor who has the years of experience I do who can and will find, purchase, sell, place and maintain homes better than I can. Prefer to take that burden off the investor and assume that role myself for obvious reasons. If an investor insists on doing the complete deal using his own resources he will earn all the profits on the financing less administrative costs. If the investor is happy with less profit and commensurately less headache, his return will reflect that adjustment but still exceed profits  by any other vehicle the market has to offer...as Frank clearly indicated during the webinar. I need homes, I am a highly capable, experienced, hands on owner with a track record. I need an investor(s)to finance homes so that I can fill lots. I am open to all suggestions. I have no mortgage on this asset, have only owned it for 3 months and before I even begin capital improvements it is cash flowing at 47% occupancy with a 38% expense rate and no debt. If one investor were to fund the 75 to 100 homes needed over a 1 to 2 year timespan (estimate to fill based in demand)
 I would consider a first position lien or some other highly secured instrument to allow that investor the ability to achieve a level of comfort needed. I am also absolutely amenable to multiple investors if that is my best or only approach.  Thanks very much to Dave, Frank and Staff for support and direction.  Best  steve raleigh

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