I think the column is a little over board.

It is under 15% if you toss in travel expenses...So you might figure a rough estimate of NOI like this...40 pads at $200 per month, owner pays all utilities.so 40 x 200 x 12 = 96,00096,000 x .6 = 57,600now take the NOI and divide it by the CAP rate you want to buy the park for... so lets say a 12 CAP57,600 / .12 = $480,00014 CAP...57,600 / .14 = $411,428and so on... finding parks with expenses that can be cut are a real key to adding huge value quickly to a purchase.

Hi Allan, welcome to the boards.

Personally, I'd be more concerned if it did have a COA (condo *** board-not hoa) You do need to address long term issues such as repair and maintenance, of buildings and grounds, whether it is apartments or homes, and how that is done would be different.

I'm curious if anyone has attended this course and what they thought of it. I find their GetReal podcasts very helpful. Just not sure if the training is worth it or not...

Jump on board and start reading.

Then I was really on board.

Even if not, I do look forward to having you on board!

Thanks for the welcome again.Originally posted by ***********:Tyler, Welcome to the boards.

LOL.Make sure the guy you talk to sits on the board and helps to make the final decision on funding your deal.