Hey @Elt1, this was a decent deal no, for only $37.5k?
https://www.redfin.com/CA/South-San-Francisco/1700-El-Camino-Real-94080/unit-18-1/home/144111497
I don’t think so. Subtract the $1250 space rent from the rent and further discount the 600 square foot and the fact that its in a trailer park and you don’t have much to show for your money.
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I looked into trailers…great cash flow. Negative appreciation.
The owner of the park has total control. Can raise rates any time and can blackball you and your tenants.
The money is in ownership of the Trailer Parks. high caps but high management costs
Was a retirement idea … Own a park and Marina in the delta. Collect rents in cash… Wife vetoed the idea…
Bob at Lazy M Marina was my hero… lived in a trailer next to the launch ramp. Collected ramp fees in cash and drank all day with his customers. Lived the life till 90 had a 50 year old wife who did all the real work along with her kids…
I suppose she still has the place… Serves great food when she felt like it…
Had trailers , self storage units, boat storage, restaurant gas station for boats… cash cow
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I think you can get better real estate deals in this budget. From my point of view No for this deal.
Thanks
The Stanford educated mobile park king I linked to couple months back has a rule: never buy mobile parks in California. Lots and lots of regulation.