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All Forum Posts by: Account Closed

Account Closed has started 1 posts and replied 1 times.

Real Estate Deal Analysis & Advice

Post: Small Mobile Home Park Analysis (seems to good to be true)

Account ClosedPosted
  • Manila, Metro Manila
  • Posts 1
  • Votes 0

I am newbie looking at jumping into my first park.  I have been scouring the web and found one that seems to good to be true.

- 17 lots ($200 per lot)

- 100% occupancy

- 0 seller owned homes

- tenants pay city sewer/water/metered electric

- Annual taxes = $1300

- Owner asking $265k

It seems like I would only have to pay for trash and lawn care.  I spoke with he owner and he stated that many of the units are owned by the same individual and rented out to tenants.  I am worried that this person my have too much power in the area.  Does this deal seem to good to be true or am I missing something?

Thoughts?

0 Votes