Posted by Chris Reuman (ME) on August 22, 2003 at 18:58:05:
Kurtis, You have to pencil the deal. Look at income and expenses, noi, etc… On straight lot rent of $125, $85,000 maybe so-so. However, if you can raise the lot rents to $150 and maybe get a few rentals in there then the price seems good. Really you haven’t given us enough information to help you. However, I would rather have a 10 lot park with mh I rent out than a 10 unit rental building. Where I live the numbers are much better for the park. Whatever you do, you need to live close to it. It doesn’t make enough money to drive an hour to it. Good luck.