First post. I have always been a SFR and commercial type person. I have been really looking at some real long term hold stuff. Not necessary parks in general, but in the land and home side of things. We have a community where each lot owner owns the land and the home. It is an older community (55+) but does not have the restrictriction. There are about 5000 units in the area with a golf course. Looking at the prices of recent sales they have been selling on the low end of 39K-150K. I also looked at some of the demographics and they have a lot that are Free and Clear.
I did a rent study this last week and it seems that the rents are 550-800 depending on the home. Maintenance fees are 60.00 per month.
In my area a 140K SFR home rents for 800-900 per month.
I have only done one Lonnie deal in my life and that was a LOOOOOONG time ago.
Based on the information in regards of doing some long term holds do you think its a viable option. I would have to sharpen up on a business model and figure out the lingo. But I think it might be a good play based on some numbers.