Looking at a property that has 98 pads, 74 POH in decent rural area. 15k a pad seem right?
If we’re talking just buying the real estate and not pricing the homes, then this is probably a pretty close estimate. You can use the 1% rule, where the monthly lot rent per pad should be at least 1% of the purchase price per pad, probably closer to 1.5%.
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That makes a ton of sense thank you.
I’m not sure how to agree or disagree with zero financial information provided.
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I agree on the lack of financial info
Are you taking all 98 pads times the $15K/pad or is it (98-74=24) 24 lots X $15K? Or am I missing something.
Thanks