Mobile Home Park in TN
Hey everyone,
I have become obsessed with Mobile Home Park Investing. I continue to learn daily more about Parks and tracking down MHP owners to see if they would be interested in selling their Parks.
I came across an MHP in TN that is 32 LOTS, on 3 10,000 gallon tanks septic tanks and all lots filled. The owner is asking for 800k and stated the MHP brings in 100k yearly.
Lot rent for them is $175 and are all tenants' own homes. Seller stated he would be interested in doing seller financing if the down payment is 250k.
I am fairly new to this but have built a solid relationship with the seller. Wondering if I have a decent deal here to work with? Any ideas as well where I can get financing options on this deal through a lender?
Thank you, guys!