Updated over 3 years ago on . Most recent reply
Analyze this Mobile Home Park
This deal came up I would have to manage it across country and it will be my first deal. I need to learn about how to manage and operate this park, also I know i will have to negotiate the price a little, but I think it is possible after talking with the seller. These are the stats.
10 lots (8 park owned homes)
Tenants pay all utilities except trash
Lot rent is $280 (market value is 335-350)
price is $252,000
my questions would be what should i do to make this work. Also what should I do with the park owned homes. I believe they are 1980s and 1990s homes. May need some repairs. How can I use these in negotiations to get the price reduced?
Most Popular Reply
HI @Brodie Priestley, let me lead with this crucial distinction. . . .why do you need to reduce the price?