Mobile home analysis
I need help with a first time mobile home park purchase. The deal in question is as follows:
http://www.loopnet.com/Listing/17416660
Some further details
7 tenant owned homes at $150 a month
1 at $200 a month
5 park owned homes
2 have been remodeled with tenants paying $550 each
3 vacant, said “need some rehab”
19 total pads.
On city sewer and water ($6000 a year bill, $50 per 10 rented, covers water bill annually)
What do you guys think?