Rent, Owner Finance or Sell

[Dan Galvan]

Hello, picked up a nice single wide mobile home on almost two acres for $35K cash a couple of

months ago and after ~$5K in updating and minor repairs, I'm in at about ~$40K.  I could sell for $95-$110K and double my money; however, my main goal is cash flow and I'm really thinking of adding this property to my rentals, but also considering owner financing.  Thoughts??

[Dan Galvan]

@Jim Glover I hear you and hoping to get where you're currently at soon.  Truthfully looking for more freedom to spend with my family.  I am a workaholic but would prefer to work hard for my own business and stop making other people richer.  I spent some time a couple of hours from you at Fort Gordon, GA. My quick story..  I have 6 rental properties right now and working on two mobile home flips, all free and clear, while still working my full time corporate job.  Also working on rehabbing a 1950s ranch home on some acreage my family and I plan on moving to by next summer.   Four of my rentals are mobile homes and in my area, they've actually appreciated well as a home/land package.  These properties are also in a more rural area, which more people are looking for down here in central/south Texas.    Both of my current flips are mobiles on land and I purchased them as foreclosures.  One of them I purchased for ~$80K + ~$10K rehab, and closing next week for $164K, after several weeks of the closing being pushed back. The other one, the subject of this thread, I purchased for ~$35K + $5 for rehab, and will be able to sell for ~$110K, per my realtor.  I was looking to owner finance the second, but am now considering other recommendations from this thread and may possibly sell.  Thought is to reinvest my profits, but truthfully I have not made a final decision.  I hate sitting on it as it is ready to go.  Meeting with my accountant next week, who is also a real estate investor, to discuss some strategies.  Guess this is a good problem to have.  I've been reading a lot on BiggerPockets and soaking up as much as I can.  @Naomie Moke @Dan Weber @Ryan Howell @Ken Rishel