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I will pay someone $200,000 if you can qualify for a loan of $1.6 million. Read below for details of the beautiful property and details.
I am looking for an investor/partner to complete the purchase of a 600 acre Mud Park. The deed part of the park is 377 acres, the other 223 is owned by the boys scouts but they let us and our guest ride free on it year round. The park in completely fenced, at the entrance it has a guard shack where guest pay to get into the park with their cars, trucks, atv,s, motorhomes and campers.
The park has 190 full hook up RV/camper sites scattered around the park. It has paved roads throughout the park. It has a 5000 sq/ft game room/restaurant that over look a 56,000 in ground pool, next to our full service laundry mat. The pool and restaurant over look a 15 acre beautiful lake. Over looking our lake is an area where we do concerts and the park has been known to get as many as 8500 guest to watch concerts at $50 a ticket to get in. Do that math and those numbers will put a smile on your face as an owner partner.
The park has an ATV race track that goes around another big 10 acre lake on the property. This is next to a round and straight race track that we use for monster truck events, big truck races and tug of wars. It has a HUGH area for fans to watch all these different events. The park has cabins around the park but the demand for them is so great we need more. We also have a primitive are for tents to camp out. The park has out buildings with showers, sinks and toilets fir people that do not bring a camper they can still shower etc. There are 3 of these type of buildings. The park has an unused motocross track that is only not used because prior person was not focused on that but opening it back up could bring an additional Million in revenue because there are not tracks in this state. We get guest that come from Florida, Tennessee, Georgia, Texas and Louisiana and probably other states that we have not tracked.
I have an MAI certified appraisal just on the land and buildings for $3.83 million that does not include the value of the business income that is about $2 million a year and could be higher than that we are not sure because we received no records from the prior person..We understand they did not even keep records or use bank accounts being that up until us it was an all cash business for some reason and now we take credit and debit cards at the gate and online for reservations..
I have a contract to buy the park for $1.85 million (can probably get it for $1.6 million cash) and have put $105,000 down already and $35,000 into improvements in the park to date in last 3 months since I received the 15 months lease/purchase agreement. Looking for a 80/20 (you 20) ownership partner that either has cash to complete the sale or at least $300,000 more to put down to get longer financing with the seller..Paying off the place now in full would be my preference only because the seller has issue that I do not like so prefer to cut ties now…I bring over $5,000,000 in equity to the table, $135,000 I have in it now plus an existing business that just by itself is worth the value of the land and improvements. I think the package deal is worth over $7 million and could sell it for that if that was my goal. You buy the land, and finance back to us for 3 years and we pay you off plus $400,000 more. You will hold a first lien position and we have a clean title policy ready to close at a title company.
You can go to www.youtube,com and type in Monster truck events at Muddy Joes Mississippi. After you watch those stay in youtube and then type in Big truck races Muddy Joes Mississippi, then after you watch those type in Muddy Joes Frank Foster and you will see an aerial view of the property and one of our concerts at the park. You can then type in Muddy Joes destruction derby and see some of those videos and more of the beautiful park.
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