Charles, what state is that in? $400 a month is a nice sum.
That park is in the Atlanta metro. Certain parts of that metro have lot rents approaching $500.
âI do not own park yet. Am I small guy? No, I am not.â
Great mindset!
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I am in the process of buying a old mobile home park developed on around 11 acres. There are around 7 spaces rented out so they drained the other septics. It has well water and septics and is in the county under a unincorporated category. There is about 20 acres to develope. Any suggestions?
Ty, we just attended the MHU Boot Camp in Charleston and we are new to this whole park thing. We have done some multi family rentals but while they made money it wasnât a fantastic return on our investment so we are now looking into buying a park. The only thing I can suggest is find a park that will make financial sense for you both in terms of purchase price and return. We are looking to do one of the following or even a combination, barrow from family for some money down, use our current multi families as collateral or even sell some properties. Keep in mind once you purchase one and you make improvements it will increase in value allowing you to sell it or barrow against it. So just start out with what you can afford.