Collierville Trailer Park

Sent letter to  Jean Cooke about trailer park on Rowlett St in Collierville.  Her son in law Tim Clay (home 756-4853 office 842-1019) called me back a few days later.  Tim works for Cornerstone Systems which is a transportation co of some kind.

He said Jean Cooke has Alzheimers and her daughter runs the park.  They turned down an offer for $1.1 million a couple of years ago he said.  He did not know how many lots were in park but I counted approx 34.  He said that all but 2 trailers were owned by the occupants.  They got the 2 when occupants left.  He estimated that the average lot rental was $200 or $220.  He said that due to economic downturn they thought park was worth around $1 million.

I called Canada Trace Mobile home park (388-3053) today and talked to Michelle.  She said lots are $330 per month for single wide.  You have to pay them for water sewer and property taxes each month too.  That's probably less than $50 per month.  So I would think the residents at the ColliervilleTrailer Park could be reaised to the same $330.  ??????

Tim said he would get his sister in law to call me to tell me more specifics about property.  Here name is Gail Cook Akey.

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22-Feb-2010

Ms. Jean Cooke
1697 Halleford Circle
Germantown TN 38139

Mobile Home Park on at West and Rowlett in Collierville

Ms. Cooke:

I am writing to ask if you would consider selling the mobile home park you own on Rowlett St. in Collierville.  I am a local real estate developer and my office is down the street from your park.  I drive past it often and decided that I would contact you.

I am a 52 year old native Memphian.  My father, George T. Nickey, and I have developed lots of local commercial real estate, so I know a good bit about property management.  I have a good relationship at a couple of local banks, so I think I could get a mortgage on that property.  I have enough money to make a down payment without having to look around for partners.

I'd like to talk to you about the property if you care to discuss it.  Please contact me at the number or address below.  Thank you.

Sincerely,