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Updated about 8 years ago on . Most recent reply

Gentry B.'s profile image
Gentry B.'s profile image
Gentry B.
  • from Lehi, Utah
  • Member since May 6, 2015
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Gentry B.'s profile image
Gentry B.'s profile image
Gentry B.
  • from Lehi, Utah
  • Member since May 6, 2015
Connect
Gentry B.
  • Lehi, UT
4
Votes |
19
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Buying & Selling Real Estate

Mobile home investment

Gentry B.
  • Lehi, UT
Posted

I am considering buying a small mobile home park for $150k (7 unit) that needs 6 trailers, each $10k.  The rent on them is between $500-575.  The number pencil to give it around 11% cap rate.  Does anyone have any experience owning them?  Worth it?  Good deal?

  • Gentry B.
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    Thomas S.'s profile image
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    Thomas S.#2 General Landlording & Rental Properties Contributor
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    Thomas S.#2 General Landlording & Rental Properties Contributor
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    You need to join the MHU forum.

    You will find out this is a horrendously terrible deal.

    What is the lot rent and present monthly lot rent income. Those are the most important numbers. Rent on the homes is at best a break even after expenses. 

    You calculate the cap only on the existing lot rents.

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