Do you think a mobile home park is a good investment? The land only…the renters own their own homes.?
There’s one for sale at $ 189,500. They have 10 spaces rented for $ 125.00 per month each..for $ 1,250 per month coming in. I have $ 100,000 in a CD that matures in May – it is at 3% now and if I put it back in a CD I’d get less interest so I’m looking to do something else.
If I could get it for $ 150,000 then I’d finance $ 50,000. What responsibilities would be involved? I’m sure you’d have to have insurance on the park in case someone got hurt, but other than that are there responsibilities? Since everyone owns their own home its not like I’d have to do maintenance. Would I be the one they’d call if someone got loud? Or sold drugs? If you evict someone for non- payment, it seems like it would be really hard to do since they’d have to move their whole home…anyone have experience with this? If you could do it again, would you? Or does anyone have any comments?