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Updated over 3 years ago,

User Stats

87
Posts
21
Votes
Ty Ottaberry
  • Rental Property Investor
  • Gilmer tx
21
Votes |
87
Posts

looking for funding for fix & flip on mobile home park

Ty Ottaberry
  • Rental Property Investor
  • Gilmer tx
Posted

So i have found a great deal that im trying to get at the moment 

it is a small mobile home park 

5 unit fully occupied with 1 empty MH pad  and much more room for more units 

Property is being sold for $200,000 

Total monthly income $3,375 

fixed Monthly expenses $733

NOI $31,700k

------------------------------------------------------------

My plane for this property would be to bring in 2 more mobile home units and do some landscaping

*total cost for value adds $34,000

rent each one out for 600 

bringing over all monthly income to $4,575 

this could be done in under 6 months and back on the market for sale for $350,000

----------------------------------------------------------------------------------------------------------

I have 34,000 cash to play with for a down payment & fees 

closing cost will be around $3,500

Looking for

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