Updated over 8 years ago on . Most recent reply
Help with mobile home 5pack analysis
This is the deal on my plate. 5 mobile homes on $230 lots for $65,000
Total Gross Income is $600 + $600 + $750 + $760 + $1000 (2.5 year lease purchase on $1000 home) = $3,710
Total Monthly Expense: ($230 Lot Fee) + (30 Insurance) + ($75 Vacancy/Maintenance) = $335 x 5 -75 for no vacancy/maintenance on lease purchase=$1,600
Net Income: $3710 - $1600 = $2110 x 12 = $25,320 / $65,000 = 39% ROI
The homes are old, and a very little value, but have been renovated/ new ax units, It seems like a good opportunity, I can't find many parks not even allow subleasing. Any opinions?
Most Popular Reply
How old are the mobile homes?
It is 13,000 per mobile home. It looks like a lot of money based on your statement "The homes are old, and a very little value"
I can't find many parks not even allow subleasing. Any opinions? You should lear more from @John Fedro and @Ken Rishel . I know they have programs how to sell mobile homes on payments in parks.