All Forum Posts by: Aaron Maynard

@Michael Ablan

@Rachel H.

@Bryan Mitchell

@Bob B.

The 11 units are the maximum possible on the property

the tenants have always paid their own utilities

The units are all city water and sewer

Regular upkeep is that the park occasionally gets new gravels and someone is in place to cut the grass for $75 every 2 weeks and I pay for two street lamps

The property taxes in 2018 were $900

The property without the 11 units appraised at $110,000 

The trailers themselves aren’t worth a great deal of money I’m sure but the way I’m looking at it I’m buying the whole park is basically buying myself income 

I expect after taxes and expenses to net at least $2000 a month, does this sound like a winning project? Does it compare well with deals you’ve made before better or worse? Thank you all so much for feedback and 

Can someone help me decide if this deal is worth going forward with? I have 7 mobile homes rented and have about 2 years experience as a landlord.

11 older mobile homes ranging from late 70’s to mid 90’s models.

All rented through section 8. 

Grosses just over $4000/month

The owner wants $155000 for the park

The bank will loan me $88000 for 15 years at 5.5%

I will put down $30,000 cash an the other 37,000 will be leans against two of my mobile homes and the land they are on.

Should I do the deal? Thanks!