I have two questions:
How good is this deal based on the numbers alone?
Does the fact that a sex offender is a tenant in the park kill this deal? Is this a massive liability on the park owner or myself if I were to buy this property?
Came across a MHP for sale with the following stats
Asking $350,000 for 33 units
25 units are tenant owned
4 are POH
Cap rate says 14.2%
Gross Rents = $63,600
Operating Exp = $14000
NOI = $49,600
I understand there a lot of unknowns but all this information i gleaned from quick searching on google and the listing itself.
I am new to the biz and have yet to purchase my first MHP.
Thanks for the help.