I am looking for help to purchase a very small park. Currently there are 4 units on the property. Property is nearly 2 acres. Past rents were 2@450 and 2@465. $1300 income. Park is for sale at $75500. I calculated lot rent only at $325. So $4x325x70=91,000. units individually metered electric, well water and septic. I estimated expenses at approx $840 per month. Leaving net income at approximately $460 per month. This would be my first park and there’s plenty of room to grow. Please contact me at ydhw01@aol. com or at 210 417 8615 Thanks Yvette
Too small of a park to use the valuation of of the the 70x rule. Factor in the exposure of well and septic into the valuation it wont work for this model . Not trying to throw you under the bus but just want you to be a better investor and have better understanding from the perspective of someone else looking at this one. Also the returns wont be great all cash for this type of thing and really the spreads aren’t there I don’t think to make it worth an investors while as well as your while.
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