FIRST MOBILE HOME FLIP EXPERIENCE AMAZING MARGINS - Q&A

[Jacob Carpenter]

Recently purchased a mobile home and getting started on my first ever flip!  My name is Jacob Carpenter and I am 22 years old and I purchased a mobile home with my cousin (20 years old) for a total of $2500 we ended up getting creative with this deal! We ended up trading a 1997 Chevy Camaro that we purchased for $1300 off of Facebook and then we added the rest of the cash and paid $170 for tax liens! You might be asking yourself, where did you find someone to make a trade like that? Simple answer. Facebook again! specifically, Facebook Market place. After a conversation with the home owner Me and my Cousin were walking away as owners of a 2000 Mobile home and a project on our hands! 

the ARV is calculated to be anywhere from $51,000-$65,000 and we are renovating this together and planning on doing 80% of the work ourselves and contract out the other work like electric and plumbing.

The condition of the property is in the demo phase, the previous owner wanted to do a full rehab and never got the time to invest into the project the whole home is striped to the studs of the and no flooring on the floor. It's a 3 Bed and 2 Bath single wide mobile home around 1050 sq ft, one of the rooms is finished in the back (1/3 rooms) it just needs flooring and it will be all set. then we have the rest of the place to do. We have received quotes and made estimates of what it will cost to fix the entire place and that is $10,000-$13,000 so after we fix up the place we should profit a good margin.

That is where are at today, from here on I will continue to update this post and for anyone that has questions feel free to drop them below because me, myself will have plenty of questions throughout the project. I want to create a space where individuals can come and create value within this niche!