Need advice on a 161 unit mobile home park in Mobile, AL
I'm starting to analyze deals around the Mobile, AL area. I'd like some advice on this potential deal. My plan here would be to buy and hold for at least 10 years.
Option 1: I would raise the down payment through private money and plan to offer 6-10% return on that loan.
Option 2: Approach the owners and try to arrange a triple net lease option. (Currently listed with a broker).
I'd like to hear some feedback on this from you experienced folks and if you need to know anything else just ask.
The numbers below are reflecting "Option 1", minus the debt service for the loan on the down payment.