Mixed property types Mobile Home Park

[Sammy Johnson]

Hello,

Again another deal or no deal plz pick it apart so i don't get nailed thanks

asking price 1,800,000

with that said owner says negotiable he will owner finance some for me

Income: month YR
31 MH @ 390/mo =12,090 145,080
20 mini/sto @ 40/mo = 800 9,600
1 SFR @ 672 =672 8,040
owner 3000sf home =1,000 12,000
~14000 174,720
vacancy = 10,140
164,580

Expense

Property Tax = 3,750
Insurance =1460
water = 8400
Trash =1300
manage =
Maintenance =4700

total minus manage OO

19610

164,580
-19,610
~144,580 / 12 = 12,048 per month

[Uwe S.]

Sammy,
You fall in love at the propertie?
Can be dangerous to you, but not absolutely.

We will help you to reach your love ;).

Okay, what you need is following:
- rent roll last 3 years
- approved profit & loss of the last 3 years, the last 12 month in detail
- property statement (needed maintenance, shape of the units and the building) any violation/permit from the city
- the complete unit mix (how many 2 bed, 3 bed and so on)
- todays occupancy
- market rents for the units (yes or no)
- is the property self managed? if not name and address of the management
- hope utilities, gas and electric pays the tenants (it´s important) looks like

Owner will do some owner financing? Is this a second mortgage? If yes you need bank financing or you can pay cash all the rest? Thats very important, the more money from you the better in this case.

Let us know if you will go further.

-Uwe