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Updated over 1 year ago on . Most recent reply

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Ryan Muska
  • Lender
  • Saddle Brook, NJ
218
Votes |
391
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Seeking advice for purchasing trailer park

Ryan Muska
  • Lender
  • Saddle Brook, NJ
Posted

A trailer park recently came up for sale with a potential Cap Rate of 10% with room to go up. 9 mobile home units and a 2/1 SFR on the property. It is public water and sewer. There is one unit that needs to be renovated.

I have asked for the following information, but is there anything I should know about purchasing a trailer park before going into it? Never done a purchase like this before.

Here is the info I've asked for: Rent Roll, rent ledger, income report, expense report, lease agreements

What else should I be asking about?

Most Popular Reply

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4,887
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3,434
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Jordan Moorhead
  • Real Estate Agent
  • Austin, TX
3,434
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4,887
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Jordan Moorhead
  • Real Estate Agent
  • Austin, TX
Replied

Check to make sure it's zoned correctly and has a current operating permit

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The Moorhead Team
5.0 stars
136 Reviews

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