I have been contacted about a park for sale minutes from my house. The park sits on 5 acres with 2 deep wells and septic tanks. It has 20 POH, 2 lot rents, and 2 vacant lots for a total of 24 lots. 12 of the 20 POH were purchased within the last 6 months and put in the park. They are all less than 3 years old. ALL of the POH have been completely refurbished within the last 6 months inside and out. All Poh have new a/c units, skirting, and front and back decks with metal tops. The park was just landscaped and a 3 rail wood fence put up around the entire park.
The POH are all rented for 350/mnth and the two lot rents bring in 125/mnth.
Expenses would be payment, elec on well, taxes, ins.,maint, and garbage pick-up.
The first price given to me today was 250,000. I have not made any counter offers yet. I already have a park about 12 miles from this one which is a 20 space park and is currently full with all poh and all rented. I get at least 5 calls a week right now from people looking to rent.
Any advice on this deal would be greatly appreciated. At 24 years old I am trying to be cautious about not overloading my plate but also want to load up while the business is good.