Newbie to Mobile Home investing..can I BRRR?

[Jennifer Freeland]

Hi Everyone,

I’m a new-ish investor, started in 2020 and have 4 flips under my belt and now own 4 rental properties. I recently came across a mobile home deal that seemed too good to pass up. Seller wants $30k, it needs $20k in repairs, and similar homes are selling for $100k. The home is on its own land/permanent foundation, built in 2003, 4br/2ba with 2000 sq ft.

In the SFR rental world, this would be a fantastic BRRR. I will be using my own cash for the deal so I'd like to pull the cash out to use for other investments. My question..is it possible to do a cash out refi on a mobile home or should I just plan to flip it?