Can I flip a mobile home for 5 to 10k

[Account Closed]

So my current investing strategy has been assignments but I’ve been feeling creative.

I’m talking to a seller right now who really wants me to find a buyer for his mobile home. The home definitely needs some tlc so he and I have agreed on a pretty discounted selling price.

I’m wondering, rather than assigning it to someone else, could I offer to have him hold the title while I flip it and then when he sells it I take a cut of the sale.

The deal would roughly outline like this:

Whatever cash I put into the flip, that amount will be seen as my “percentage of equity”.

So if its currently worth 50k in “as-is” condition and I put 5k into the flip then I’ll have 10% equity (roughly) in the property. Then once we list the house to sell in its new condition, let’s say it now sells for 85k, I’ll collect 8,500 off the top at closing.

Is this something that I can make happen? Ive never flipped anything before but I have a good relationship with the seller and I feel like it’s a win win for both of us.

I have about 5-10k I can spare and I just thought of this while I was going to bed haha. Thoughts?

[Rachel H.]

@Account Closed Sounds like you're looking into doing a partnership with the seller. If going this route, it's best to put everything in writing. Have a start date and end date just in case things don't go as planned. It's best to put a time limit on the project. This way, if things don't turn out for the best both you and the seller can walk away from the deal. If you're putting money into the deal, you may have a stipulation in there where the seller can buy your share of the deal if things don't go as planned and/or time runs out. Good luck!