Be Your Own Boss
We were close to retiring and started looking for a business that we could operate with what capital we had, knowing our retirement income would not sustain us throughout our retirement. We travel a lot and needed a business that gave us the flexibility to be able to be gone long periods of time and yet supply us with a good income.
We found Baker Bay Mobile Home Park on the internet. The location really caught our eye when we saw the bay with the country setting. We felt this was what we were looking for. We could see the potential of this investment opportunity. As it turned out, the Park was already sold. We were truly disappointed. A year or so later, we were talking to a Real Estate agent about a business opportunity. She suggested this Park. Apparently the original buyer was ready to sell as he was not able to change things enough to generate a good income.
We bought the Park in 2000. It took us a few years to get the nine mobiles renovated and up to L & I standards, including new windows, sheet rock, electricity and plumbing in most. By renovating and cleaning up the park, it has enabled us to attract quality renters. Very rarely do I have to deal with late rent. We changed some of our rental requirements to allow more tenants to be able to live here. With all the rentals now full, we have had very few issues, which makes it easy to run.
Our Park sits on 5 surveyed acres on Baker Bay. Bald eagles nesting in the huge spruce trees and pelicans & other birds in the summer are a pleasure to watch. We can see the lights of Ilwaco and the Coast Guard Station across the bay at night. The sunsets still take our breath away. The Columbia River has quite a bit a traffic from the big cargo ships to cruise ships in the spring and fall. We are located less than 5 miles from Ilwaco and Long Beach and less than 30 minutes from Astoria, Oregon.
There is a real need for clean, reasonably priced rentals in our area that show a pride in ownership.
The back acreage has large spruce trees and lots of wildlife. Many of the tenants enjoy the large deer population that wanders through the property while others love the Bay view.
This park is home to working class tenants, some of whom are members of the Coast Guard stationed at the training station in Ilwaco.
All of the time tested rules and regulations, along with the paperwork will be available for the new owners. The processes in place allow for quick and professional screening and rent collection.
With the bank handling deposits and a “caretaker” who handles any issue when we are traveling, this investment opportunity can almost run itself. This turn key operation complete with 1700+ sq. ft. home, 9 income generating mobiles, a 20 x 40 tool shed, 30 x 62 pole barn sitting on 5 surveyed acres can be yours for $1,300,000.