Buying a 16 unit Trailer Park

[Tony Nelson]

Good evening. I’m trying to find out if paying $475k for a trailer park with 16 trailers grossing $9k / month is a good deal.  I have 12 other rentals but have never ventured into this market.  The offer was just presented to me and numbers look to good to be true, so I was wondering if I may be missing something.  Trailers are very old 1985 and prior. 

Insurance - unknown

Taxes - $3500

Property management - 8%

Common areas and landscaping - $300

Tenants pay all utilities