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SgtRock
post Feb 21 2011, 08:41 AM
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Hello Everyone, we are new & wondering if anybody has info on Permanent land/lease RV or Park Model RV parks in Texas? We have recently come across one that charges $25,000 for a lifetime land/lease & $800. annual maintenance fees.We are just trying to compare other like parks out there, any ideas? Thanks! SgtRock
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RFCN2
post Mar 3 2011, 12:00 AM
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Each to his own of course, but with so many very nice parks that offer moderate monthly or seasonal rentals why would you put of 25,000?


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SgtRock
post Mar 3 2011, 06:16 PM
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QUOTE(RFCN2 @ Mar 3 2011, 01:00 AM) *

Each to his own of course, but with so many very nice parks that offer moderate monthly or seasonal rentals why would you put of 25,000?



Well, first of all, it's a private park, no transients or temporary workers.Secondly, if you want to sell your lot in the future you can & recover $25,000. Other public parks charge a monthly fee & you never get it back.Thirdly, it's out in the Texas Hill Country, not in the city, What do you think of the idea now? rolleyes.gif
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kcmoedoe
post Mar 4 2011, 11:56 AM
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QUOTE(SgtRock @ Mar 3 2011, 07:16 PM) *

Well, first of all, it's a private park, no transients or temporary workers.Secondly, if you want to sell your lot in the future you can & recover $25,000. Other public parks charge a monthly fee & you never get it back.Thirdly, it's out in the Texas Hill Country, not in the city, What do you think of the idea now? rolleyes.gif

Same issues still apply. You lose big time if the project goes bankrupt, the property taxes don't get paid by the owner or the place just plain fails to attract people and the monthly fees skyrocket. The Texas Hill Country covers a big area. Downtown Austin is much more valuable than being 50 miles out in the sticks. How was the $800 yearly assessment arrived at, when can they be raised,, who gets to determine if they should be raised, is there some kind of limits on how much they can be raised and who will be paying all the utilities? What about common area assessments, capital improvement assessments and other special assessments? Are the property tax costs passed on to you? $25,000 may be cheap or may be a total ripoff, depending upon the cost of similar parks in the area. For $25,000 you could get a deeded property in the Hill Country, which would offer you many more protections. Would you pay $100,000 upfront rent for a home you could buy free and clear for $125,000? That is similar to what you are wanting to do. I am curious how you could sell the lot and recover your $25,000. You don't own it in the first place. Do you mean you could sell your rental contract? This sounds a lot like a timeshare situation where they tell you that you can sell it anytime. Problem is there are no buyers. People give them away just to get out from under the monthly maintenance fees. If you get a buyer, how much say does the owner get over who you sell it to? Can you sublease the sites? If so, You could very well end up with your dreaded transients and temporary workers if the long term renters are able to sublease their lots to whomever they wish. The devil is in the details and I would strongly recommend a real estate attorney to review this type of transaction. It most likely strongly favors the owner, probably to the point it is a ripoff to everyone else.
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