MHP 24 pad 1 house potential deal.

[Dustin DeSmith]

I found the mobile home park for sale, I met with the owner and discussed some numbers.

Asking price $350,000

24 lots and 1 house included.

city water/sewer paid by tenants

house rented at $700/mo

1 mobile home owned by park rented at $600/mo

1 vacant lot no house 1 vacant trailer owner is selling not paying "maybe I'll buy it to rent or sell owner financing?".

21 rented lots at $225/mo

5 have dogs at $50/mo

giving us $6275/mo or $75,300/mo Gross

he gave me his expenses at $8,700 annually so 725/mo

so that $5,550/mo or $66,600 annually net minus financing

He removes the snow himself but I got a quote for $200 per snowfall. I do live close so I guess I could do it but I don't want to so I'm trying to budget it in.

so even with the 2 vacant it seems to be kicking off a good ROI? What do you guys think?

Thanks Dustin