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I’m finally just getting into the real estate industry I’ve met some real estate investors so i’m definitely going to start finding some wholesales, one of the investors has money tied up in a mobile home park they are trying to sell, 250k is what they are asking for 3 mobile homes about 30 minutes from the city, I’m wondering if perhaps this would be an appropriate highest bidder oppurtunity, and if maybe i should suggest breaking up each home and doing a hbs seperately for each? This would be my first one and im sorta worried buyers wouldnt show and leave a bad impression on my real estate investor
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There are a couple of other issues worth asking about. You mentioned that the owner was trying to sell the mobile home park. What size is it? How much acreage, how many mobile home lots does it have, both developed (ready to rent) and undeveloped (maybe need plumbing, power, concrete, etc)? Or are the three mobile homes you mentioned for sale the sum total, and cover the only lots in this park?
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There are quite a few investors looking for sizeable mobile home parks, but if this is just a little bitty patch on a back road with no room for expansion, then perhaps doing HBS flips on those three MHs might be some good experience for you.
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–Dee
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this is a snippet from my investor-partners email;
” 3 homes are park owned with one of them being a 2015 16×72 and one being a 2,000 SF MH with stick-built addition. We are offering it for sale at $250K with a CAP rate of 10.16%. Unfortunately we will not be able to offer any owner financing.”
looks like some other information was lost because the message was forwarded so i’ll get some more info.
I am in north carolina, she said shes not in any hurry to sell them just spreading word of mouth right now and if they sell they sell
Its just those 3 mobile homes
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