12 Unit Mobile Home Park

[Mike Hodges]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $300,000
Cash invested: $50,000

Purchased a 12 unit park owned mobile home park on a 5 acres. Rents were extremely low at around $450 per month and generated $5,400 per month. However over the years any many upgrades this park generates over $10,000 today.

What made you interested in investing in this type of deal?

More doors and more cash flow.

How did you find this deal and how did you negotiate it?

I saw this for sell by owner on Craig's List. Met wit the seller many times and made an offer.

How did you finance this deal?

My local community bank.