Mobile home park purchase- good deal? - Posted by wick spears

Posted by DAN on June 29, 2004 at 20:46:00:

WHAT SHAPE IS IT IN, HOW IS THE AREA,THE DEMO. 50% SHOULD BE EXPENSES,LOTS MORE WORK THE LOT RENTALS,IS THAT COUNTING A MANAGER? IF NOT YOU HAVE A JOB, HAVE YOU EVER BEEN A LANDLORD.THATS A 16% CAP. RATE THATS GOOD I WOULD SAY THE PARK MIGHT NEED WORK AN THE AREA DEMO. NO SO GOOD. IF NOT IT SOUNDS LIKE A GOOD DEAL.

Mobile home park purchase- good deal? - Posted by wick spears

Posted by wick spears on June 17, 2004 at 21:11:03:

5 acres, 30 park owned homes, 100% occupancy cash flow after expenses = $8000.00/month there is room for at least 2 more homes renting for 550.00 owner wants $600k