All Forum Posts by: Ryan Caughron

@Matt K., not an easy answer! My gut tells me I'd do quite a bit of work for $50k, but as I grow it wouldn't be as worth it to me. @Andrew B., thanks. Hadn't thought about it like that! @Jonathan R McLaughlin, good point. I am definitely more experienced in the residential space.

Question: Would the 1 hour vs 4 hours away bother you?

I'm at a crossroads. I am looking at $2.5M properties and I've narrowed it down to two options, 1) a 60-unit apartment, 4 hours from home, that should cashflow $60k annually with a property manager in place, or 2) a 150 unit ground lease trailer park, 1 hour from home, plus a commercial laundry facility open to the public. In total, it should cashflow $110k per year, but will require more of my time. There are 3 employees related to the park manager and laundry facility. Lots of moving parts, but it's more money and closer to home. I have no experience in trailer park management, but a good friend owns a couple and is willing to help.

11-unit apartment complex, grade C-, $260,000 asking price and it should cash flow $1100 per month (allowing 10% maintenance and 10% vacancy) on a 15 year loan, PLUS the mortgage gets paid down $1000 per month. All of my rentals are higher quality than this one (grade B). Would you buy it?