Re: Is this deal worth a look?

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Posted by Jonathan on May 31, 2009 at 20:57:10:

In Reply to: Re: Is this deal worth a look? posted by Tony Colella on May 31, 2009 at 19:53:39:

Thanks for the reply Tony,

TBH i'm not really even considering this unless it turns out it can be turn into a good deal. I'm just using this as an opportunity to figure out how to evaluate a good deal in the future like you say.

My plan would be to bring in another 8 homes and either rent them out or seller/finance them, once the park is full the income a year would be around 18k just from lot rent, then add on the money i'd be making from either selling or renting out the 8 homes I brought in and I can see this being a decent little park.

I'll be the first to admit I don't know much about the running costs of a MHP or any other kind of expenses I need to be factoring in when trying to evaluate a deal.

With it being 2 hours away is def a factor. How hands on is a small park like this once you get ti filled with tenants you;re happy with?

To make this deal possible I would need the owner to carry a note on it with me putting 10% down or something like that. (not very creative in my finance structuring just yet =))

Please let me know what other info I would need to take a deeper look at this and i'll try and get a hold of it.

Thanks for the replies guys

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