Mobile home park ,Would you buy it?

[Levi Edgy]

Let me start by saying this will be my first deal with real estate investing 

I am looking at a mobile home park with 18 pads and 1 house

13 pads are rented so is the house

All mobile homes are tenant owned

The park is on a community  well and water treatment system 

Owner pays water/ sewer/ trash ,and any repairs for house

This sets on 4 acres

Asking price 180000

Gross cash flow 2000.00 per month 

[Ryan Groene]

Keep on driving past the park and don't look back.....

because of the cost of private utilities, your better off buying a 13 unit apartment building, 13 single family homes, or something else.

MHP's this small will not hardly make any money.  The only ways i would do this deal was to get this deal with no money down and financed for eternity.  or if the city will pay for connection to city water/sewer and will bill it directly

that is the only way this deal makes sense from a risk/reward prospective.  once those utilities go bad, your not going to be able to sustain the capital expenditure to replace each of the well's or the waste Water treatment system.  what type of waster water treatment system are you looking at???  septic, lagoon, waste water treatment plant...or combination of 2 or 3  of them.

Private utilities are a headache and cost way more per lot to operate than city water/sewer...that is why it normally doesn't make sense financially to buy a private utility park below 50 units or if you have one of the utilities on city.