Mobile home deal need help analyzing numbers
If you could please leave me insight on this deal.
1995 double wide MH on private land. 2 beds 2 bath with 2 driveways
Septic, Cental air, shed
Would need a Roof over $3000
Taxes $569/yr
Fees include trash, street light and hoa $280/yr
Rent should be $700
Market value is around 45,000-$50000
I can only get seller to 42000 with half closing cost.
Turnkey rental
I tried to get the sellers down a little more to my first offer of $35,500. With this I added in 5% vacancy, 10% capx, 10% PM, 10% repairs plus insurance. It seems at this purchase price and a loan of 6% I would be breaking even each month until the loan is paid off. However I would be doing my own PM for a long time. Any insight would help. Thanks Kevin.