Seller Financed Mobile Home Park
Hi,
I'm looking at a small mobile home park in Ohio.
Outside a small town ( nice rural area) commutible to Dayton Ohio.
Its a Mom & Pop ,no leans, very run down.
It has 6 park owned rentals bringing in $3600 a month (old trailers)
2 derelick homes that need to be torn down.
Expenses are very low $3000 a year including taxes.
The park has a sand filter treament plant good for 19 homes, and a well with a 1200 gal storage tank.
They want $180,00, 20% down seller financed.
My plan would be to put in 9 more homes that i would own and rent .
What do you think about the price and terms?