input re caravan parks

Viewing 6 posts - 1 through 6 (of 6 total)

rip
Member
@rip
Join Date: 2004
Post Count: 17
September 16, 2004 - 6:24 am
Can anyone please give me any input in regards to investing in a permanent mobile dwelling in a caravan park. COCR is very good, is it something a bank would consider. Any thoughts on subject would be appreciated. Thanks
rip
geo
Member
@geo
Join Date: 2003
Post Count: 1,194
September 16, 2004 - 6:53 am
The bank would lend you on the land – you then lease it out asa caravan park. They are excellent to invest in in my opinion – so go for it.
Kind Regards,
George.
I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
September 16, 2004 - 6:58 am
It would be very hard to get finance for. The bank could not lend on the lend as this would be owned by the caravan park and leased.
You may get some finance on the strucuture, but i beleive it would generally be treated like a personal loan.
Terryw
Discover Home Loans
North Sydney
[email protected]
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
September 16, 2004 - 12:49 pm
Hi Rip
TerryW is right.
Mobile homes depreciate quickly.
Not sure how your proposed investment is structured. More details would make it easier to help you. .
Caravan Parks are a mixed lot, I’ve managed 3 of them, and wouldn’t like to do it again unless I’m reincarnated as a 140kg fit wrestler.
cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
Gambini
Member
@gambini
Join Date: 2004
Post Count: 42
September 17, 2004 - 1:48 am
caravan parks can be gold they also can be the your worst nightmare
so be carefull buddy
thats all the advice i could give someone without seeing with my own eyes
dont get to obsessed with the cocr because costs will always be higher with caravan parks
[cigar]
rip
Member
@rip
Join Date: 2004
Post Count: 17
September 17, 2004 - 6:04 am
[cigar]Thanks everyone, the property for sale was just one mobile home in a managed caravan park, with the only outgoing apparently , of a park fee weekly. But as you have said the land is owned by the park and you are only buying a structure?
rip