Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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 about 6 years ago, 11/03/2018

User Stats

115
Posts
12
Votes
John Lee
  • Tampa, FL
12
Votes |
115
Posts

Can you turn over title for 1/1 mobile home from park to tenant?

John Lee
  • Tampa, FL
Posted

I recently found a mobile home park with good cash flow. Actual number provided below. The mobile home park is located in the city so there is barely any space between them (great for lack of landscaping maintenance, but high noise level and friction between tenant). Since each mobile home is just 1 bed, 1bath, is it more difficult to turn ownership over to tenant?  Asking price $830k, 29 lots with 9 apartments and 4 cottages, 85% occupant rate . The operating expense seem high. How difficult is it to find a good on site property manager? since it is a relatively small park, can i get by with part time property manager? This is my first time dipping into the mobile home park space. Should i seek out partner in capital as well as operational?

$400-$650 per unit

AnnualAnnual 
Gross Rental Income$211,116
Other Income$51,638
Vacancy Loss$31,500
Effective Gross Income$231,254
Taxes$11,058
Operating Expenses$128,772
Total Expenses$139,830
Net Operating Income$91,424

Loading replies...