I am new at this, and there is a parcel of land with 5 owner occupied trainlers that I am interested in . The lot rent is $200.00. The asking price is $49,000 . I know that it has a septic system, new dry well, public water. Taxes are $2611/yr.
I would like to know what steps I should take to find out if this is a good deal and how do I protect myself from any legal, environmental or structural issues. eg. - what type of inspection would disclose any underground problematic conditions.?
Well first let me state that though this is not really my field of expertise but some of the basic steps are to review the leases and have the the property appraised and inspected. There's inspections for septic systems, I sure there's someone who inspects wells. I would also recommend maybe having someone represent you that specializes in that type of purchase/sales. There's plenty of agents that work only with mobile home parks. Once again there's a lot to be learned from those that know what you are wanting to do.