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Updated over 6 years ago,

User Stats

6
Posts
0
Votes
Justin Schmidt
  • Rental Property Investor
  • New Braunfels TX
0
Votes |
6
Posts

Help analyzing Mobile home park deal / Want to wholesale the deal

Justin Schmidt
  • Rental Property Investor
  • New Braunfels TX
Posted

Looking for some input on quality of deal i have. Deal points are as follows:

2 separate properties both in N California

61 unit park with 11 park owned homes

large club house, common areas and homes really good condition

40 unit park good condition but very small town 7 park owned homes.

90% occupancy currently

Currently both gross income 504k annually 

I have in contract at 3.5 million owner is willing to carry a 1st at 5.5% over 30 years if I put down 30%. What should i be looking out for and is this a good deal. I am most likely going to try wholesaling it since this is a new asset class to me. 

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