Wisconsin Investment

After reading some of these posts, I understand brokers are somewhat frowned upon, but I’m posting this where the investors are:

Just listed in Black River Falls, WI:

-43 unit mobile home park, 100% occupancy

-39 units privately owned, 4 owned by the Sellers (included in purchase)

-2 of those 4 are currently under land contract.

-Land area: Approximately 5.89 acres within city limits.

-Monthly rents are $220.00 per unit, which includes water/sewer. Electric and gas are metered seperately.

-All homes are 100 amp service, per Seller.

-Seller is responsible for all road maintenance and water/sewer breaks.

-There is no owner financing or assumable financing offered at this time.

-There is no onsite manager.

-Purchase price is $350,000 or $ 8139 per pad.

-Monthly expenses are:

 Insurance:     $125

 Parking Tax:  $733

 Electric:          $20.00 for security lights

 Garbage:       $250-$300

 Plowing:        $150.00 budgeted per month

 Water/Sewer:  $1200-$1600

Yearly Expenses:

 State Operating License:  $400.00

 Property Taxes:                $10,667.81

Sellers health is very bad and they need to sell before he passes. Price reflects a fast sale.

Post Edited (04-14-11 20:48)

See if your owner would take $90,000 cash and to close in 15 days?