I have been looking into buying my first park, and work to learn the game as I work to improve on my first purchase. Just wondering if I am making a good decision … i am sure I will get some good feedback.
details … 22 pad park with lot rent at $115, presently 3 vacancies … no poh. The property has a small house, 900 sq ft, and about an acre lot. the present seller values the house and lot in the deal, however I have said they offer no value to a new owner and have not valued in my offer (however this may bring an additional 350/month rent). This is a rural area 100 miles from a major city but closer to a city with 100K people. The water seoerately metered, and city sewer.
My offer was in the 170 range with a plan to fill up the empty pads, there is additional space for 5 pads to be developed. I would be an absentee owner visiting once a month to check up.
Any advice on my plan ??
thanks in advance … dean