Park Evaluation - potential purchase

Hello everyone,

I stumbled across this website as I started researching pros and cons of owning a park. I’ve located a mid sized park for sale that has 28 lots with existing homes (none park owned) and has 10 lots available for expansion. The estimated gross rental income is $67,000, and noted expenses are $15,000 for water, $4400 for garbage (both annually). Taxes, management and maintenance not yet factored in due to needing clarification on financials. If hypothetically we carried a mortgage around $1800/m, and total expenses were under $30,000 annually, are these numbers worthy of a savvy park investor? I am not sure what kind of margins your are all after, and I only invest in single family homes and smaller multi units.

Potentially, with all 9 new lots filled, another $2000 could be achieved easily as well.

Thanks for readying my first post, and I appreciate all advice!

Need way more information. For a very fast analysis to see if it’s worth time to start a due diligence… What is the market area like? What are local rents? What are local vacancy rates? What is currently being charged for lot fees? other fees? All tenants current on rents? Leases? what are the terms you have to honor? Get a better list of expenses asap. … Do you know anything about the park and it’s area???
list of questions would go on from there.