I have taken your home study course and I am in the process of making an offer on a Mobile Home Park. I would like to get your advice on a proposed offer for a mobile home park.
The park has 20 mobile homes. The average rent rate is $400 / month / unit.The park comes with extra undeveloped acres of land for expansion and is located on a major highway. The mobile homes are on septic systems and the water supply is from wells. City water and sewer is not available near the park at this time.
The park is located in a rural town. There are larger towns within 5 miles of the park. A Walmart and numerous restaurants and small shops are within 5 miles of the property. However, larger towns are within 30 to 40 miles of the park.
Can you provide me with some guidance on how much you would offer for the mobile home park?