Mobile home parks are the scapegoats of the real estate investment world. Perhaps one of the reasons why most investors ignore this lucrative asset class, other compared to obvious eye sore reasons and the negative connotation using mobile home parks, is because feel it requires an excessive amount of up front cash and a personal income statement well above their refers to. This might be true if you were trying to finance your property through a large bank, however many mobile home parks are purchased with much lower than 20% down using little financial reserves in the account. These parks are purchased through owner carried notes.
If
Inexpensive Equipment Self service laundry frequent capitalization rates are .10, for example (ask genuine estate agent), divide earnings of $52,000 by can.10, and you get $520,000. This will be the value belonging to the building. In case the usual rate is .08, meaning investors in the market expect an 8% return, the value would be $650,000.
There is often a community room that is dirty and generally unused. There aren't any laundry machines, so tenants have commit eight blocks to the laundromat equipment. Lucrative only a pair places that rent this cheap in town, right now there are many who get $750 or more for two bedroom rentals. You can see that there is potential for improvement far better rents post.
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