Updated about 10 years ago on . Most recent reply
Mobile Home Park
Hi my name is Dennis and this is my first post here. I have been looking into mobile home investing but ran into a (what I think to be a sweet deal). It is an actual mobile home park in Florida 8 lots on 1.8 acres for 149k with owner financing. 40% occupancy, city water with 4 septic tanks.
Gross Income $28,719
Operating Expense $13,328
Net Operating Income$15,390
Expense Ratio 46.4%
No debt info and average rent 450
6 of the homes are park owned.
I would like to know if this is as sweet of a deal as I think it is. I am a newbie but I would love to take on this task.