I have the chance to buy a 20 pad mobile home park, ( 100% occupancy, all tenants own their trailers)gross abour $50k expenses 20k, net 30k . price 150,000. problem old park, old trailers, small lots, no room for expansion,well & septic. lots of negatives, but the price seems very attractive. any thoughts?
How far is the park from your home? Could the property be a good “land play” in the future? For the right price… “lots of negatives” seem to vanish! The price looks good. Is it possible to do a lease option or seller financing to make this deal even better?
about 1 hour from my home. no a land play - too isolated.
the seller will hold financing with 20% down. %150k is asking price, probably could get it for 135 -140
I was just wondering if you ever did the deal… was it too good to be true?