All Forum Posts by: Bulent Gurcan

I came across a trailer park investment idea and I need your input to see if it makes sense. 1.2 acres valued by the city at $125K there are 19 trailers on this property in which 2 trailers belongs to the park (paying rent and payment for the trailer) and being sold to the renters at this moment. Park makes $57K a year and the owner says $15K of expenses a year to maintain the park (he pays water/sewage, property tax and clean up) . Asking price is $300K which includes the property, two trailers and the business. Now from my calculations (please correct me if I am wrong) $50K down $250K financed at 7% which gives less than $1700 a month payment. $57K makes roughly $4600 a month income minus $1700 payment and $1300 for the expenses total expenses $3K. From here there is about $1600 a month net profit is obtained. Now the real question is, if it is worth $300K. I was told that if something happens and you lose all the tenants you have a $250K loan with a $125K property. However I don’t think people will get up and move a trailer which costs thousands of dollars and leave especially if the rent is not been increased. These tenants have been living here long time. It seems like a good deal please give me your input about this investment opportunity. I am new to investment and I don’t know if I am missing anything or not adding.

Price $300K
$50 K down $250K financed @7% 30 yr = 1700 month
Expenses $1700 + 1300 =$3K
Income $57K - $36K expenses = $21K net income /yr

Thank you so much everyone great help.

Can anyone give me a name of a bank that does not charge arm and a leg for closing cost? i know some banks charge more than others since almost everyone in this side knows more than me please help me and give me a name of a bank that is low on closing cost.

Thank you

I am new to the board so hello everyone and thank you for your help.

When we hire a company to manage our properties does that mean we cannot be sued on some issues since we have to be aware of the problem first? Meaning if there is a leak which causes a mold issue and company did not let us know or if there is a hazard that we are not aware of and company does not notify us for the problem to be fix can we still found negligence? Or it is on the company who suppose to manage the property?