Instead of a starter home, why not a starter trailer park in Salmon Arm or Summerland?
Many people are struggling these days to get their foot in the door of the expensive real estate market in Kamloops and the Okanagan.
Average prices for condos in those regions start at about $400,000 but there are other interesting options on the market in that price range.
Bill Summers of Lighthouse Realty in Abbotsford, for example, is offering the 7-pad Ranchero Mobile Home Park on 1.07 acres of land in Salmon Arm for a mere $459,000, or about the same price as one of those condos.
It comes with a gross annual income of about $32,000 and requires no onsite management, the listing says.
With expenses of a mere $4,129, that nets the owner almost $28,000 per year.
For the more ambitious new park owner who wants to stay in the region, Summers also lists the 22-pad, 8.6-acre Lakeview Terrace park on Walters Road in Summerland for $2.19 million.
It comes with 22 owner-occupiers and “fantastic Okanagan Lake views across to Naramata.”
The brochure for that park shows a net income of $106,000 per year.
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