NEED HELP TO SEE IF I HAVE A GOOD DEAL OR NOT

[Robert Livero]

Hi everyone, looking to purchase  a gentleman's portfolio. it consists of 2 houses ( 1 1bed 1 bath & 1 3bed 2 bath  rents are 400 &750), 1 duplex consisting of (2  1bed 1 bath rents are 400 each), and 8 mobile homes,( dates of mobile homes are from 1967-1985) 1) 3/1 rents 525 yr1979,  2) 3/1 rents 425 yr1975,    3) 2/1 rents 400 yr1971,    4) 2/1 rents 450 yr1981,     5)  2/1 rent none(needs major repairs) yr1971,    6) n/a rent 375 yr1975,     7)  2/1 rent none (needs major repair) yr1967,     8) 2/2 rent none ( cosmetic repair) yr1985.

These properties are all spread out over the county some are on the same property together but most aren't.

My concerns are :

1) while doing my home work on mobile homes, get the purchase price minus scrapping fee and divide by 27.5 years. so that makes these properties to be of no value.  How do I figure out what to offer on the mobile homes? just the land value, the value on rents, etc.

2) I have a private lender that will give me the money for the deal but needs to be paid back within a year. does anyone know a lender that can help me do a refi on the mobile homes that are this old? So I don't get stuck in a jam after the year is up and loose it all to my private lender lender

The owner of the portfolio is looking for 250k.

IS THIS A DEAL OR A WAIST OF TIME?

THANKS

ROB L