We am trying to purchase a park and will need to fill 6-10 lots.
We can buy beat up 80’s homes for $2000 and bring them in and fix them up for a total estimate of $7000 or.
We can buy mid-late 90’s homes in fair condition for $6000 and bring them in and fix them up for @ $10,000.
I am not really interested in buying new because I want all the homes to be sold via rent to own in 2-3 years. The park is full of 80’s homes so I don’t think a few brand new ones would change the park atmosphere that much.
So do I go with 80’s homes at an estimated savings of $3K apiece or go with a nicer newer 90’s home?
How much of a difference is there in fixing up and reselling my 2 options?