I found a small park with low rents and I am trying to figure if it is worth my time.
Park has 30 lots with 20 occupied. No Park owned homes.
Rents are anywhere from $50 to $125 including water. Average is $100 a month.
Area parks have rents from $125 to $175.
The seller is only asking $140K and I think I can work him down to $110K
Would you waste your time on such a small park with small rents but a small price?
I think it is reasonable that I could push rents to $175 in 4 years, but I don’t know if this is worth the effort.