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Thank-you in advance for your interest. This is a specialized area of
Real Estate and past experience has taught me that it takes from
one to five years before a buying or selling decision is made. The
learning curve goes something likes this:
Buyers Curve
- I hear they are good investments.
- I'll get some information from Realtors.
- I've got the information but this park doesn't look that good.
- Maybe this one is OK, let’s get more information.
- I've got the information now on this and 3 other parks. I'm starting
to get a feel for them.
- Let’s visit some of the parks to see what they look like.
- I don't like the looks of any/or they look overpriced.
- I would consider an offer but only if I can steal it. Here's my low
offer.
- What do you mean someone else bought the park?
- Maybe I shouldn't be so cautious. If someone else bought it maybe it
is worth more than I thought.
- I now think I have enough knowledge to make an intelligent decision.
- If I really want one I better lower my expectations as every park I
looked at over the last two/three years have sold. All buyers can't be
wrong.
- I now consider myself totally knowledgeable and wish I had bought one
of the parks I looked at over the last two to three years.
- I just bought a park.
- Let's forget the whole idea.
Sellers Curve
- It's a good investment and I'm not going to give it away.
- The tenants are all friends, have the buyer raise the rents if he wants
more income.
- I want X number of dollars and I don't care what the market is doing
and what other parks are selling for.
- The buyers concerns are not my problem.
- A little information is all the buyer needs.
- Why should I get accounting advice
- I don't care what the lender wants.
- Buyers are snooping around and bothering my manager/tenants.
- Why don't I have an offer yet?
- The offer price is too low, forget this buyer.
- The offer price sounds ok but why so many subjects and conditions?
- What do you mean the buyer wants to offer a lower price now that he
has checked everything out?
- Forget it. It's my way or the highway.
- Ok I understand why we need to give more detailed information and why
we must price the park according to recent sales.
- This is an offer I can accept.
Why buy in 2009
Commercial rates for five year terms have remained in the 5.5-6.5% range.
Some analysts say interest rates will probably stay in this range for
the immediate future, (spring/summer) as the long term bond market rates
are dropping. More buyers can afford to buy a park at a 5.5/6.5%
interest rate than higher rates and right now there are very few parks
for sale. Today you hold the winning hand. Buy now for your future at
affordable interest rates.
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