Also, you can talk to mobile home dealerships in the area to get a better sense of the market and how business is going in general.

I am glad to be here and trying not to get overwhelmed by all the information, while also having to force myself to turn off my laptop lest I burn my retinas from reading article after article.

I have a 8 unit multi family property. 1 single family home 2 duplexes3 mobile homes all on 2.5 acres of land.Grosses $6500 a month.

Even if you went a scrubbed his computer of any electronic file and had him burn every paper copy he had it would still be futile.

I am still mobile but need to plan for the worst.I just have a few concerns (not excuses) preventing me from getting started.

It isn't a rock solid rule, but it certain helps you filter through properties quickly instead of burning many many minutes analyzing a property for a rental.

But no sense in burning bridges because i never know when I might need them.

.$505,882 in real value plus $90,000 of personal property = roughly $600,000 in value for the park as it sits.Your upside is in filling the remaining vacant lots, pushing the rent to $250+ over time, and renting the 6,000 sq. ft. building.Your greatest risk is the private water/sewer system, and the demand in a metro of only 33,000 (TEST AD ESSENTIAL).The potential value of this park is 25 lots x $250 x 12 x .6 = EBITDA $45,000 plus 3 stick builts x $600 x 12 x .6 = EBITDA $12,960 plus 1 commercial building $1,500 x 12 x .6 = $10,800 = TOTAL EBITDA OF $69,000 AT 8.5% CAP RATE = $811,764.The risk/reward scenario is decent because if you pay $600,000 and sell off $90,000 in mobile homes, you have $510,000 in deal and, assuming 25% down, you have invested $130,000 down and, if you can bring the park fully back to life, you have a profit of around $300,000 on your investment of $130,000, which is about a 2 x multiple which you should be able to harvest in less than 5 years if you work really hard and did great due diligence.

So much I created my own mobile barbershop business to service children who may be on the spectrum and can’t handle the barbershop environment and even seniors who are home bound, bonus is having a new friend they can look forward to seeing once or twice a month!

I would check other companies targeting Mobile homes in other areas.