Hi, i was wondering if i could get an input on a deal i am looking at, just a quick analysis. Would greatly appreciate it !
The park is listed at $ 7 995 000 with 241 lots where 165 are park owned. Which leads to a question :
Are park owned homes something we should try to avoid since we only would like to be responsible for the land with the utilities ? More than half of the lots are with park owned homes. Park owned homes vs 0 park owned homes, input ?
The park is located in Fayetteville, North Carolina which seems to be a good area with a decent population 2010 (361,000)
Cap rate is listed at 10 %.
Utilities : Water - City, Sewer - city, Water Paid By:Tenant - Individual Service
Occupancy 95 %
Virtual tour presentation : http://rowellmedia.com/LafayettePlantation.wmv
Any thoughts on this deal, worth pursuing based on current information (if all is true) ?
What is an example of a “good” mobile home park deal according to you and your experience and why ?
Thank you !