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Updated over 6 years ago, 07/06/2018

User Stats

18
Posts
1
Votes
Brad Swaney
  • Investor
  • Lima, OH
1
Votes |
18
Posts

Small Mobile Home Park (purchase price?)

Brad Swaney
  • Investor
  • Lima, OH
Posted
Currently looking at small 14 pad mobile home park for sale. Lot rents $210 includes city, water, sewer and trash. All pads rented, also mobile home out all owned by tenant. Also building on property rents for $450 monthly. Income around $40,000 yearly Expenses $10,000 yearly (property taxes, trash, water, sewer, park license, insurance) What is price I should be looking to purchase at? Also what kind of financing would I be looking at from bank? Wound you do a 30 year or shorter for something like this? Also this is out of state. Which is another concern of traveling i plan self managing property. Can you afford a property manager on small park like this?

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