Looking at my first deal tomorrow. Nervous!
Saw an ad on Craigslist this afternoon: "2 br/1 ba. Needs some work. Set up in park. $2,000."
I called and talked to the owner. Older couple who had been renting it out (I think, will know more tomorrow). Set up an appointment to go look tomorrow at 5. According to wife of owner, the repairs are pretty cosmetic.
Thanks to daylight saving time it was still light so I drove down to look at the home. It's not a pretty one, but it's nowhere near the worst I've seen. Didn't get to see inside, but the outside looked ok. Could definitely use a good pressure wash.
The lot rent in this park, which is a B to B-, is $350 with water included. My concern is how much am I going to be able to charge for rent if the lot rent is already that high? I realize that it depends a lot on what standard is for this area, but I've been to so many parks and the lot rent varies by well over $100 from one park to another. It's hard to know what I can reasonably charge in rent.
So what should my questions be for the owner when I go to look tomorrow? Any suggestions will be greatly appreciated.