All Forum Posts by: Aman S.

Just a high-level estimate : 

Use actual rent. 

So if all lots are rented total yearly rent = 300*12*35=$126,000

Estimated expenses, let's say  35 % of gross rent $44,100

Net Income = $81900

at 10 Cap $819, 000  (Cap rate depends on the area, capital improvements required etc) 

@Johnny Manziel   Trash pickup and snow removal can be a big expense. I bought a park in WV a few months back, 25 lots and 2 houses. Our monthly trash bill is around $22 per lot. 

@Chris Ebert Can you send me rules and regulations? Thanks. 

@Austin Reppart I purchased a park in WV about 3 months back. I am also looking for park residents manual. I will share with you if I find something. In the meanwhile, I can share some of the letter templates we have created. Please let me know/dm me. 

@Michael Tucker try to eliminate cash transactions as much as possible. Majority of my park tenants and other single family tenants deposit rent in the bank. Many of them have started using cashapp or paypal. 

My MHP tenants either deposit in my bank account or mail the checks. My non-MHP tenants use CASHapp also. 

Thanks @Bill F. and @Omar Khan . I will check NADA value. My LR contract does give me first refusal on the homes and approval for new owner. 

@Omar Khan This is my first park. I mostly invest in townhouses and single-family homes. When I bought the park I wanted to sell all POHs. Now looking at the numbers, lot rent is $275-300 and home rent is $700. So I am thinking about buying this and renting the home or maybe buy this and sell seller financed. There is a good demand for mobile home rentals. 

Agree. Just want to see what is the fair market value.  Any idea?

@Chris Ebert Yes, I am considering buying it.