Foreclosure Own or Flip Opportunity
Turn a 3 million investment into 4.5-5.5 million in a year

In 2022, Florida was the fastest-growing state. No state taxes, a tropical climate, and a strong, growing economy are contributing to continued growth. This mobile home park is in a region just 45 minutes north of Tampa Bay that is growing at 2.5% a year. Because the foreclosure process is not complete, I cannot reveal the exact location until April 1st, but here are the facts:
1. 40 rentable spaces with rents averaging $1000 on two acres. Not all spaces have a mobile home. There are four spaces without a unit.
2. The current owner has not improved the property. The park is a fixer-upper due to poor maintenance for six years, hence the discounted price.
3. Existing mobile home units need to be power-washed. Most should be repainted. They are older units (15-40 years old) but are sturdy, functional, and anchored to the ground. Existing structures need repairs. New fencing is needed. Estimated costs are between $100,000 to $200,000, possibly more.
4. Location is excellent on a main artery close to all the restaurants and shopping you are familiar with. Within one mile, you will find Ace Hardware, CVS, Publix, Walmart, Home Depot, McDonald's, Wendy’s, Dairy Queen, many other restaurants, the police station, and downtown.
5. I was the seller six years ago after owning the park for ten years. With a down payment of $700,000, I am willing to carry back a note for $2,100,000 at 6.0% amortized over 30 years due in ten years. This gives the buyer time to make the improvements and either sell or refinance.
6. The sales price is highly discounted at $2,800,000 because of the work needed and the four used units needed to get the property to maximum capacity. Call for details of what needs to be done.
7. The park will first go to the county auction in May at around 2.8 million cash. If it doesn’t sell for all cash at auction, the title reverts to me, and I will offer the above terms.