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Updated over 5 years ago on . Most recent reply

Dominick Dahmen's profile image
Dominick Dahmen's profile image
Dominick Dahmen
  • Financial Advisor
  • from Buffalo, Minnesota
  • Member since Oct 26, 2016
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53
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Dominick Dahmen's profile image
Dominick Dahmen's profile image
Dominick Dahmen
  • Financial Advisor
  • from Buffalo, Minnesota
  • Member since Oct 26, 2016
Connect
Dominick Dahmen
  • Financial Advisor
  • Buffalo, MN
5
Votes |
53
Posts
Mobile Home Park Investing

Condemned Mobile Homes in a Park

Dominick Dahmen
  • Financial Advisor
  • Buffalo, MN
Posted

I'm looking at a park that is a pop owner who's owned it for 20 years and is in his 70's. It's priced at a 15% cap but about a third of the mobile homes are vacant and condemned. I want to see if I can even bring new homes in. If I can't, does the 15% cap justify this situation enough? Also, apparently rents haven't been raised in quite a few years. I have yet to verify.

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