I’m brand new to the CashFlowDepot community and super excited to be a part of it!
I’m in the middle of reading “Deals on Wheels” and have ear-marked a number of resources to continue my education.
I couldn’t stop myself from looking at different opportunities around me and don’t have enough skills yet to determine if this would be a good play, but the numbers, from a quick glance, look good to me (just bought my financial calculator…that’s another item I’ve earmarked to learn).
Here are the details:
10.5 commercial acres
11 park-owned units that are fully leased for $180/wk
1 lot available for development
3 of the units have their own septic, 8 units share a septic
Gross income: $100k
Op. Ex: $26,500
Asking Price: (price reduced) $575k
Initial strategy thoughts: as leases or units turnover, begin selling them with owner-financing but maintain the lot lease, and develop the 12th site.
Any thoughts on a deal /strategy like this? Again, forgive me for being so new! I’m working hard on my education, but it takes time! Obviously I wouldn’t pursue something like this without knowing more, but just trying to gather thoughts along the way to help me see opportunities more clearly.