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Adrian Smude
  • Rental Property Investor
  • Plant City, FL
370
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1,096
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How do I evaluate a deal in a Mobile Home Park?

Adrian Smude
  • Rental Property Investor
  • Plant City, FL
Posted May 27 2015, 15:25

I received a call today from a very motivated seller in a trailer park.  He needs to move by the 5th and owns his double wide out right with no liens.  The monthly lot fees are $450 and the mobile home is a 1982.  I was quickly thinking terms, but he said the park does not allow that.  How do I evaluate the value?  I cannot find the lot anywhere online because most sources (property appeaser, zillow, etc) just list the park.  I have not yet done anything in this situation so I'm trying to get as much homework done before approaching a potential partner to split the deal IF there is a deal.  Looking for all direction and advice, Thanks! 

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