I’m new to Mobile Home business and like to verify whether my first deal is a good one.
The park is north-western state in a small city ( < 500 ) with below characteristics
Number of of lots : 12
Number of tenant owned homes : 4
Number of rent-to-purchase home : 1
On City Sewer and Water
Potential to expand to 2 more lots
Monthly total rent : $5000
Monthly expense : $2000
Asking price : $285K
Manufactured Year of Park owned Trailers :
2 - 1981
1 each of 1973,1978, 1979,1982,1984,
Just need a first order analysis if its good to proceed for further due diligence.