(Creswood MHP is available once again. Owner financing available. Seller prefers buyer visit property before going under contract)

I’ve had the privilege of representing multiple mobile home parks in my first year of being a realtor. I’ve dealt with parks as low as $150,000 all the way as high as $1,600,000. I’ve learned a lot about the mobile home park business, the “wants” of many national investors, and all about the ever popular catch phrase of “value added”.

The subject of “value added” brings me to my next point. You can’t capture future value if you aren’t willing to take some occasional risks. As the old saying goes, “Opportunity only dances with those on the dance floor.” We all know that for all intensive purposes they (this country) aren’t making any new mobile home parks. Those existing parks have great value for investors as a result of this. Those parks of size have even more value as they allow you to be more efficient economically and generate more revenue.

I’m presenting to you a new listing of a 70 pad mobile home park in Greensburg, IN. This park is located in an absolutely beautiful location almost halfway between Indianapolis & Louisville. The park in its heyday hosted dances and boating shows on the lake. This park would potentially make a great combo RV park as well due to the natural scenery found here on Lake McCoy.

Those of you who have dealt with me know that I don’t tend to sugarcoat things. This park could use some TLC. This park was allowed to fall into disrepair. It’s going to take a special individual/group to bring this park back to its glory days…but the person who brings it back will be handsomely rewarded financially in the long run. This park has home run potential. This park is Cinderella before the glass slippers.

Decatur County and Greensburg, IN officials are definitely interested in revitalizing this park. In a recent conference call the week of October 8th, 2018, ten different organizations joined in ranging from the county commissioner, police department, & the water department. This shows they are interested in revitalization. While I can’t say with 100% certainty the extent of a financial package available to the next owner to help their steps to reclaim it, they do appear to be willing to help the next owner in a myriad of ways.

I know you’re all going to hound me for financials and numbers. I have very little to provide to you. This park has been sold multiple times over the past several years both by bankruptcy auction and on contract. The previous owner bought this park in an auction that included multi-family apartments. He held onto the apartment buildings and sold off the park. Despite the fact that it only has eight tenants, the park is breaking even financially!

If you are an investment company who can afford to clean up the park, bring in your own trailers, and fill up this park, you could be looking at annual income in excess of $400,000 at maximum capacity. This isn’t going to be a quick turn-around but it will definitely be worth your financial commitment and energy in the long run.