Is this a good opportunity or no?

[Dominic Richardson]

I am looking at a mobile home park that has (5) mobile homes on it. 

Current cash flow is $557/MO - Cap Rate 6.9% and COC 18%.

Does this sound like a great opportunity? Looking for some feedback and thoughts. Thank you in advance. 

[Dominic Richardson]

Quote from @Bill B.:

Yup. Ask a local trailer seller but I bet they’d say you’d be lucky to sell them for $10k retail. (Assuming they aren’t very new deluxe trailers, just run of the mill ones.)  If your seller thinks he can get more than $5k each offer him $100k less instead of $75k less, after he sells the homes to the renters.  Then they get their price and you are golden. But I bet they won’t take that deal. They should have already sold them if they were worth anything. My understanding is many homes cost more to move than they are worth. 

Gotcha, thanks for the information and your time. It’s much appreciated!