Mobile home park in Florida - need help

[Gilad Rak]

Hi Guys,

I'm new in the mobile park biz,

[Jon Klaus]

Jim Johnston says throw out the income from the rental of the park owned homes. That's a different business than renting the dirt. Is the income from the rented homes figured in the cap rate? Re-figure without that income and expense to see what you get.

Property management on rented MH's in a park can be intensive. You might want to Lonnie-deal these off to tenant/buyers. If you offer terms that make sense to you and the tenant/buyer, you should be able to sell them. Have you read "Deals on Wheels"? I'd also contact Jim Johnston who has posted here on BP in the past.