No more units can be added to the MHP. That you can place replace trailers that are currently there but must be of like kind and size directly from the city.
Rental Income $ 95,400.00
Electric $ (6,600.00)
Dumpster $ (3,660.00)
Maintenance/Lawn $ (24,000.00)
Property Tax $ (8,000.00)
The ower is asking for 50k Downpayment, owners financing 15 years, 5% interest rate.
If these numbers my cash flow is negative because of a low downpayment and 15 years instead 30 years.
How difficult is it to replace MHP tenents?
Is it possible to have insurance for MHP?
Like a new owner can I keep some rules like a Grandfather's property?
*This link comes directly from our calculators, based on information input by the member who posted.
@Aline Zamora : To answer your first question, need little more information.
How many are total homes?
How many park owned? - it’s not easy to move owners: you can rise lot rent there.
How many are tenant owned? - check if there are any lease agreements- if no, can give notice.
2. Insurance should be taken separately, for land and for homes.
3. Check with county before you purchase.
By the way , is it in city water and sewer?
I would suggest getting some education in this space prior to taking the dive...I can send you a MHP DD checklist and questionnaire to help but I would go further than that... Mobile Home University should be tops on your to do list.
@Aline Zamora, I sent via pm.