Mobilr park madness!!!

[Jack McWatters]

Guys I wanted to start off by saying I might have possibly stumbled across the most amazing slept on investing strategy in real estate. Well maybe not slept on... who knows.

I actually have been eyeballing a park that went up for sale in a state I admire I won’t tell you where. Jk if you want to know just message me! Anyways it’s a smaller park only 7 units and a house. It’s actually fully occupied and I have the profit/loss statement that the agents sent me and it made decent profits in the years 2016-2017 I don’t have the recent ones I’ll have to find them. Anyways when I calculate what the current rents are

Unit 1 800/mo

Unit 2 875/mo

Unit 3 275/mo (lot rent only)

Unit 4 550/mo

Unit 5 675/mo

House 550/mo

Unit 8 800/mo

Now as the average lot rent is at 280 for mom and pop parks, I think that there is a possibility of raising that lot value up, and trying to get every unit on rent to own to allow them the opportunity to become home owners, which would benefit them and me. They already all pay their own utilities surprisingly, I would only pay upkeep and garbage they said.

The property is listed at 550k I think it would be better off in the 425-475 range if I could negotiate that.

550k @ 10.9 cap rate (please correct me if I’m wrong I’m new at the cap rate calculations)

450k @ 13.3 cap rate

I want to be able to only charge lot rent and get rid of having to repair the units myself allowing them to take care of their properties as their own, and giving them the opportunity.

Please let me know what you think and if my numbers are off. I’m posting on here to gain wisdom and learn, so please be nice and give advice. So I can learn.