Why Should You Choose a Fast Cash Offer for Your Mobile Park?
Owning a mobile park might be a good investment with high cap rates. However, some mobile parks may not bring enough profits. The estimated cap rate you need for a mobile park to be profitable is at least 5%. For parks that are older, located in a depreciated area, or one that is need of a lot of repairs, the cap rate might be too low to make a profit. In that case, finding a mobile home park buyer will be the smartest financial move.
You Don’t Want to Deal With Landlord Responsibilities
Owning a mobile park is a lot of responsibility. As a landlord, you’ll need to take care of expensive repairs and other issues that arise. If you’re tired of your responsibilities as a landlord or don’t have the necessary funds to cover expensive repairs or maintenance issues, finding a mobile home park buyer is the best option.
You Inherited the Property
If you’ve inherited a mobile home park, you’ll probably want to consider selling it. If the park has a low cap rate, you won’t see much in the way of profits. Plus, you’ll have to deal with landlord responsibilities that you may not want.