Hello all,
I have a small park 16 pads on 4.37 acres with 16 POH/pads. There are only 2 tenants reported at this time, with the seller unable to give me operating expenses. He states basically will sell it to me for the land value with seller finance and he wants 350k. I am thinking to get out of the 2 park owned homes with tenants left, with rent to own, and just focus on renting the pad sites. I am learning this business, and I am not sure this is a good deal. Its about 2.5 hours away from my home. City water. My question is really how much can I expect for expenses on this property?
4 acres in Huntsville is not worth 350K. I should know as I operate there as well.
Expenses? There are 16 POH and depending on their condition you need to rehab them. What condition are the roads? How are the trees and do they need trimming? A lot of the old properties out there used to have galvanized water lines, which should be switched out for PVC or equivalent. How dated is the electric service, and what does that look like should you need to scrap an old home and bring in a 200 amp new one?
This will be a capital intensive project. Message if you’d like to chat in more detail.
jhutson - thank you so much! what is the best way to get a hold of you? - Im new on here and I dont see a direct message link.
Click on his picture/avatar and sending a message is one of the options.