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Updated about 9 years ago,
MH rental in a MH park
I recently came across a 6 yr old MH in a MH park that is in a desirable area. I found a lender that would let me finance for 10 yrs with 20% down and 8% interest. I spoke with the park manager and renting properties is allowed. After running some numbers including the mortgage, insurance, property taxes and the actual lot rent I would still make positive cash flow. Just wondering if this would be a wise decision to move forward with. Has anyone had experience investing in a MH park???
Thanks