74 Unit MHP, monthly NOI 19,695

[Eddie Starr]

That is the information for the deal I'm looking to buy. Here's some other basics:

74 Unit MHP

Asking: $1.7M

Wanting $605K down [if opt for assumable loan]

Rate: 5%

Pymt (P&I)/Mo: $6,456.72

Tax assessor has it at $1.2M [Owner has put ~$450K into upgrades & MH renovations].

Amounts are monthly:

Rents + Garages: 34,600

Vac 5%: 1,730

Eff. Gross/Operating Income: 32,870

Total Exp: 37.9% 13,175 [includes property management and maint/rep].

NOI: 19,695

I'll consider options. JV, debt/equity "partners," PML/HML [only needing $605k of $1.7M; about 36%], and maybe some other options. Remember, this is secured BY THE PROPERTY, 74 mobile home lots, with with 13238.28/mo  [19,695 - 6,456.72 Pymt]. Total asset based lending, NOT credit driven. NO balloons!

[Dennis Ford Jr.]

Hello Eddie,

   Connect with me at [e-mail], I have connections for this one.

[Alain Landriault]

I can also do this deal.  Just need to negotiate your terms.

Who is the seller? private or through real estate agent?

Please contact me to discuss further

Alain Landriault

[e-mail]