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Updated over 3 years ago on . Most recent reply

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7
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0
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Terry Howard
  • Real Estate Investor
  • Waynesville, NC
0
Votes |
7
Posts

Sm. Mobile home park 50/50 units owned worth it?

Terry Howard
  • Real Estate Investor
  • Waynesville, NC
Posted

Is it worth owning the actual units. All utilities paid by tenant. 50 percent lot rent other 50 have seller owned units?

Most Popular Reply

User Stats

115
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54
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Andy Bauman
  • Phoenix, AZ
54
Votes |
115
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Andy Bauman
  • Phoenix, AZ
Replied

I'm really not sure how you expect anybody to help you with so little information.  When evaluating mobile home parks you would need to know about market value of current homes, are they single wide, double wide, is the park 100% full, are the utilities public or private, if private are they in good working order, what are market rents for homes in the area, what are rents for apartments, how much is the lot rent, how much are they paying in rent on each home for the 50% currently owned by the park, is it in a good market, are the rents being paid at market, are the lot rents at or below market, what are the real estate taxes, is there rent control, what capital improvements are needed for the park, etc...

  • Andy Bauman
  • Loading replies...