hello all…first post.
buying mhp. 32 units with 16 more available lots. Additionally, has a sfr, 3 family and 6 family on 29 acres.
rent roll 205,000…expenses 68,000. 135,000 from mobile homes and 70,000 from rentals. Buying for 1,250,000
cap rate seems great to me. I currently own 26 residential rental units and can’t find cap rates like this.
any pointers for a first time home buyer on what to look for.
Also regarding the 16 remaining available lots…owner is original. Built lot himself. Selling about one additional unit per year. Anything to look for with these vacants. Says all approvals are ready for additional lots. In middle of doing my due diligence but in contracts.
any thoughts are appreciated.