A mobile home fell in my lap (virtual wholesale) 🤔should I?

[Luis Serrano]

As I was wholesaling a virtual deal under contract, a gentleman came and asked if I did rent to own. As I build report, he was living in a mobile home behind his parents house and wanted to move but didn’t have any money and the parents wanted the mobile home out. So I told him you want to sell the mobile home and he said can you do that for me and I said YES!.

NOW WHAT🤔?

[Susan Maneck]

I've done one mobile home deal in my entire life and it was so crazy and reckless I'm amazed it worked out for me in the end. I was offered a job teaching at Northern Arizona University in Flagstaff for just one semester. It was about 30 years ago and I thought the rents were high there. I found this former resort area near Flagstaff that had lots for sale specifically for mobile homes. So I got this idea to buy a lot there and buy a mobile home in Tucson and move it up there. I found a double wide repo that was six years old for 11K which they were able to move to Flagstaff for 1K. I bought the land for 12K and spent another 10K building a pad. This was when interest rates were out of this world and put all but land on my credit cards. After I got all the pieces put together it appraised at 45K and I got a loan for 35K at a whopping 12% interest. After that semester I got a position at the University of the South so I rented the home at $550 a month. Three years later I sold the property for 53K. By that time I had moved to Florida and had another temporary position at Stetson University. I used my money to help buy a 3/1 house from HUD for 37K. I spent 10K fixing it up. After a year I finally landed a permanent position in Mississippi so I sold that house at my moving away garage sale for 55K. Don't try this at home kids.