Mobile Home Park Investing
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
Can you turn over title for 1/1 mobile home from park to tenant?
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
Annual | Annual | |
---|---|---|
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 |