Hoping I can get a few experienced replies on this park. If anyone knows, it’s certainly going to be this group! It is located in SD and seller is asking $4.75 M. There are actually 2 separate parks about 1 mile apart. Each with private water and septic systems. One park also supplies water to additional 40 lots. Total of 156 pads with 30 being PO.
Pads rent for $260 plus water, rented homes average $700. Looking to owner financing at 5.5% and re-fi after 13 years. Expenses appear to be in the $8-10K /mo range. Looking forward to any help! Thanks!!!