Hello All,
Looking into the viability of purchasing a park (minimum of 100 spaces) as an investment, looking to see if anyone would be willing to provide some good info about their operating expenses on a yearly basis. Underground pipe failures seem to be the big expense owning a park.
Just to be more specific, this is concerning parks where you don't own the MHs (just the land) and leasing out the pads for others to place their MHs on. I don't have much interest in owning the MHs themselves unless I'm convinced its worth the additional hassel.
If you are willing to help and your expenses incl. the maintenance on MHs you own please specify how much of the expenses go towards MH upkeep if possible. My goal is essentially to determine the estimated expenses on owning the land and leasing spaces out.
Also, the given expenses such as debt service, taxes, etc. can be left out as they will be very much deal specific and yours will be different from another's without much correlation.
Thank you in advance and I appreciate any amount of advice.
-Richard
