leverage is needed to scale.Although some diversification can be good as well.. he could buy a few rentals then buy a nice performing note that will not have the risk of tenants.. if a tenant should not pay one month he or she still has the note income.. also could use the note income to further snow ball that mortgage..

Take into account: Accounting, Advertising, Cleaning, Insurance, Lawn/Snow, Legal Fees, Maintenance, Cap Exp, Utilities, Taxes.  

Usually Third Thursdays but because of snow we canceled yesterday.

That means more snow. 

Hi evrybody ,i am kind need help on deal i am trying to make it here .Asking Price 1,45 milion Purchase price 1.35 Downpayment 30% ( bank loan)8 units 9600Sf total Gross Operating Income 138,533   (Gross Potencial income 145,000)Monthy GOI 11544Total Annual Expences 51794monthly expences 4316Expenses 51794Property Menager 7000insurance 6000Landskaping snow removal 9300repairs 4000taxes 18500trash 2200water sewer 4900Rents 1650 ,1600,1375,1200,1400,1750,1375,1800All is townhouse 3/2I am think to i do my self property manager ,i am think to lower landskaping and snow removal from 9200$ to lower down.4 is fully done ,4 need to be renovate.School is 10 ,area is great ,bullding is very healty ,a lot land can be approve to build another 8 unitsPlease i need some help before i give 5% monday to under deposit .thank you (i am sorry for english )

Higher and faster during the snow melt season.

Get estimates for other services - lawn care, snow removal, etc.Use these estimates to then run your analysis and figure a maintenance schedule and CapEx budget based on the inspection.

don't forget about mowing, snow plow/salt, some turnover, taxes for your manager/workers comp, free lot rent, money for your management time, accounting software, LLC set up cost Your going to have more of a greeter in a park like this, which would be free lot rent only and maybe $5 a lot...smaller parks have really thin margins...if you have 2 tenants move out, die, leave town, get arrested, whatever, you then lose 14% of your tenant base and monthly income for the property, get to 5 tenants and your at 40% which could throw your loan into nonperforming very quickly unless your willing to come out of pocket on something like thisjust to show your top gross revenue will never equal 40,000(210*14*12=35,280)just do your diligence and i wouldn't pay more than 200k for something like this...and thats a stretch or if there willing to carry some of the papersomething this small, don't turnover to a property management company because they don't know what their doing normally with a park like this and their going to charge 10% of revenue probably.

He had a deal with the previous owner where he cuts the lawn every now and then and does some snow removal on the property.

First I started looking Upstate NY, SUNY college Towns and decided instead of driving north 2-4 hours I rather fly South 2 hours and avoid the Snow.