Differences Between Buying A Rv Park Versus An RV Park
Like most real estate the Seller usually wants too much and the purchaser wants to pay too little to get mobile home playground. Certain buyers may have different motivations for choosing a certain park (1031 money, ability receive better financing, conversions to other uses, and location to where they live). In this book we will only look only in the value of a mobile home park for the typical buyer who continue to operate it as a mobile home park.
Anyone that has seen an appraisal on a house or most associated with real estate can have heard mention within the 3 approaches to determining the associated with that real property. They are the Cost, Sales, and Income Reach.
Unless you are coming up utilizing value of a brandname new mobile home park or the one that is predominately vacant, I do not see any reason to use the cost come up on. It is not likely that this new mobile home park will be built nearby exactly what it would cost to build an alternative park does truly take into account the amount of time, effort, and cash it takes to fill that park up with occupied and paying home owners.
As far because your Sales or Market Comparison approach to value, this one other highly suspect. Famous . based on comparing the sale of this subject property to additional recent sales and adjusting for differences that you might not know with regard to. Problems with this approach include varying expenses, rents, and management. Whether you are an investor or appraiser I would certainly 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
