Thank you for your questions.
Location of Park: Rural Missouri 50 minutes from a large Metro. (St. Louis)
History: Seller inherited park from his father; the original owner. (Built in 1970’s)
Size: 92 pads | 70 filled | all tenant owned homes, except one home belongs to seller. | City Water, City Sewer, tenants mow their own yard.
Pad Rent: $90.00-$150.00 (below market)
2020 Gross Collection: $96,000.00
Purchasing Discussion: Seller requires $250,000.00 down and will finance the rest. (Terms have not been discussed nor has due diligence been started.)
11cap the Value of the park comes to 1 million dollars.
I don’t know what your return would be since this is my first deal. I’m looking for a little guidance from others with experience.