Interested in Mobile Home Park for Sale What to Do Next
I have found a small mobile home park for sale but I don't know what my next steps should be. I have invested in SF and MF before but never a mobile home park. Here are the details:
5 mobile homes sold with park (recently renovated)
Room to add 2 or 3 more
Homes on septic (not sure how old the system is)
$2200/month rent for 5 current homes
Purchase Price: $140,000
My long term goal would be to sell the 5 MH that come with the park and give the new owners the option to stay in the park and rent the pad. Add the 2-3 pads that there are currently room for in the park.
Because the park comes with 5 MH would I need to do 5 separate closings to have the properties placed in my name?
What are my next steps with moving forward with this purchase? I have already emailed the listing agent to find out what the monthly expenses are for the park owner.