Looking at first deal - Posted by Gary-OH

import · February 25, 2004, 7:03pm

Posted by gary on February 26, 2004 at 02:29:36:

Could it be that $250 a month pad rent is too much for an old park like this. Maybe the reason the park is vacating is these old homes are just wore out?

import · February 25, 2004, 7:03pm

Posted by Gary-OH on February 25, 2004 at 20:03:17:

I am looking at my first MH deal which I can get an older MH for 2K (no repairs needed). I noticed the last time while I was driving in this 50 pad park that 5 more pads are vacant for a total of 10 vacant pads. Seller doesn’t know why 5 more trailers are gone. MH park is in a desireable part of town. The MH park is older and will only fit 12 x 45ish size trailers (most are two BR). Haven’t talked to the PM yet. Lot rents are $250/mth. My goal was to sell for 5k with 300-500 down and payments of $165.24 (16%). What else should I be checking on?

Thanks,

Gary