All Forum Posts by: Zack Presnell

Property consists of 7 single wide mobile homes (in good condition) 2bed/1 bath on 2 acres. Well water. Each home has electrical meter and septic tank. $650 a month per home. Income $4550.00 per month. Taxes $1700 a year. Insurance $1400 a year. Purchase price $250k. Good deal (explain why or why not)?

Thanks for your valuable input.

 Hi Curt. Thanks for the info. I ran the numbers. It came up to $202,500.00. So with that being said that would be the value of the park with the homes included? Thanks for your input!

The property is in north ga. 9 single wide mobile homes from 1980's to 1998. They are in decent condition. Each home is individually metered electric and water. Rent is $375 a month. The homes are park owned. I do not know the taxes or any other specifics. I am in the beginning of negotiations. The asking price is $135,000.00. Any opinions are greatly appreciated. Thanks.

Thanks for everyone's input. Curt, it sounds like you have a good business model going. Keep up the success.

Hi BP members. Is anyone actively purchasing mobile homes with land and renting them out? What is your criteria for purchasing? Thanks.

Has anyone ever used a data list company for mailing mobile home owners about purchasing there property? If so, was it successful and what data company did you use? Thanks for your input.

I am looking at a mobile home park to purchase.  Details - 29 acre piece of land, gravel roads on property, 80-90 year model homes in well maintained conditioned, 22 homes and one older home, metered power to each home, well water. When I ran the numbers it hit the 2% rule. Actually 2.2%. My question to the seasoned/experienced investors in this arena is this: Do you evaluate the purchase price like a traditional stick built home/apartment or another method. Thank you in advance for your advice. Best Regards.

Remember this. Be greedy when the majority are fearful and be fearful when the majority are greedy. It applies to the stock market or real estate. I remember when monkeys tossed darts at stocks versus gurus picking stocks and the monkeys had a better return. Do the opposite of the majority. 

I have a friend who has owned up to 30 units at one time. He no longer invests. Question. When evaluating a purchase price he described several methods, but one stuck with me. Example - 4 unit that rents for $400 month per unit. It equals $1600.00 month rent total. The most you would want to pay is $160000.00 for the property if in good condition. Any input would be appreciated. Thanks.