Updated over 6 years ago on . Most recent reply
COC for my first Mobile Home Park
Hello everyone,
I'm in negotiations of a mobile home park deal, this would be my first mobile home park. I wanted your impression on these numbers.
Rents: $13,095 per month.
Financing: $4910 per month.
Expenses: $4000 per month. (For insurance, taxes, landscaping/street maintenance, and park manager, well/septic)
This means, $4185, profit per month. Or $50,220 per year. My down payment will be about $140,000. So about a COC return of >33%, what are you guy's thoughts? I know lots of you have more experience on this. The homes are all park own besides 4 which are under contract to own.