MHP For Sale, How Does This Deal Look To You?
20 pad mobile home park. none of the homes are park owned. $285 per pad per month ($5700/mth) taxes 13650, ins 1740, water/sewer 8000, repairs/maint 2000, electric 250, asking $300,000. looks like it should cash flow about $1000 per month. any thoughts on this?
I do not understand you statement $1000 a month. Asuuming all the expenses are annual, the total expenses are close to 25000+ or dividing by 12 that is about $2100 per month. with 10% down your balance will be 270K, @6% for 30 years your payment should be 1610 after factoring 10% for vacancies and repairs i seea cash flow of about 1400 on the investment of $30000. Am I making mistake ? If yes will experts please explain ?
Rick where abouts in ny is this? I am also in upstate ny and looking at mobile home parks love to talk possibly partner...email me at **Please See My Profile**
In what county is this MHP? I live in Orange near Ulster, interested in parks as retirement income, and living in one, these trailers now are beautiful. Where do you fing parks for sale?
Would it be cheaper to buy or create your own park?
Buy, I think, less hassle right?