Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Mobile Home Park Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

90
Posts
30
Votes
Kevin Mika
  • Real Estate Agent
  • Clearwater, FL
30
Votes |
90
Posts

Mobile home deal need help analyzing numbers

Kevin Mika
  • Real Estate Agent
  • Clearwater, FL
Posted

If you could please leave me insight on this deal. 

1995 double wide MH on private land. 2 beds 2 bath with 2 driveways

Septic, Cental air, shed

Would need a Roof over $3000

Taxes $569/yr

Fees include trash, street light and hoa $280/yr

Rent should be $700 

Market value is around 45,000-$50000

I can only get seller to 42000 with half closing cost. 

Turnkey rental 

I tried to get the sellers down a little more to my first offer of $35,500.  With this I added in 5% vacancy, 10% capx, 10% PM, 10% repairs plus insurance.  It seems at this purchase price and a loan of 6% I would be breaking even each month until the loan is paid off. However I would be doing my own PM for a long time.  Any insight would help. Thanks Kevin. 

Most Popular Reply

User Stats

13,926
Posts
12,725
Votes
Replied

If at $35K you are only break even it is still a terrible deal. Paying off the loan has no real impact on cash flow and since a mobile home is a depreciating asset in most markets it is not a good investment.

Loading replies...