Just wanted to get a second opinion on a potential park purchase. Here are the details:
18 space MH park - park has 17 park owned RV’s and 1 park owned old mobile home
City water/city sewer
A neighboring park charges 500 per month for 2 bd MH and 550 per month for 3 bd MH
Separate empty 10 space park included but only has a couple pads on it
The seller said they were renting out the RV’s as mobile homes basically.
Question: Has anyone tried using RV’s instead of mobile homes for long term rentals? How do I value a park like this? Any suggestions?