Double -Wide Flipping in Desirable areas

[Sheri Phillips]

Hello All,

Long time reader & snooper.

I have a question regarding flipping a double-wide.

My Hubby and I live in Mansfield Tx. We live on a road where bigger new built stick homes are going up all the time. The land prices are growing fast and the schooling here is highly rated also.

We own .75 of an acre and on a prime street with relative little neighbors nearby and know it is desirable land. We also have a double-wide on the property that is in average condition built in early 2000's We imagine the land is worth 30k and the house as is maybe 30k (3b2b 1640SqFt))

What we are seriously wondering is whether to flip the double-wide and sell as a package with land and for more than double its worth, or to flip the double-wide conservatively and concentrate on the possible rents instead over the long term.

Ideally because of the location and how much the property prices are rising in the area we can renovate the double wide to look beautiful and sell as an idealic country home with deck/fencing and put 20k-30k into the flip and sell all for $150k +

So our main question is is it worth investing so much into a double-wide flip coz the location/land is sought after? The problem we imagine is that the clientele in this area will want to build their own house and not move into a double-wide regardless of how well the flip looks.

Any advice is greatly appreciated.

Thanks for your help!

Sheri