Chris Koerner
๐ค SpeakerAppearances Over Time
Podcast Appearances
Okay.
So that park probably has no website.
It probably has way under market rents.
It probably has occupancy issues because it has no website.
They're not doing anything.
So I'm going to get the park to perform by literally posting ads on Facebook Marketplace, free ads, making a free website with a vibe coding app.
and increasing the occupancy.
And that $20,000 a year goes to $30,000 a year.
And the park is worth an 8% cap rate.
You bought it undervalued at 10%.
So it's now a $360,000 park that you paid $200,000 for.
So you can either sell it or you can just manage it and enjoy the profits.
When you said seller financing, what does that mean?
That means the seller is holding the note.
They are bearing the risk of you buying the park.
But what's in it for them is, A, they can get the park back if you default.
OK, so they're not actually giving you the park up front.
They're letting you have it today on the basis that you'll pay them in the future with profits you make.
Exactly.
So you're making monthly payments to them.