Mobile home flip deal gone well.

[Ben Naught]

Investment Info:

Mobile home fix & flip investment in Kennewick.

Purchase price: $12,000
Cash invested: $17,000
Sale price: $50,000

This is a 1979 double wide in a very nice park called Santiago Country View Estates in Kennewick Wa. We did some interior paint and drywall in the living room area and painted the remainder of the home. This home took us 30 days to renovate once we acquired the contractor for the job. All in all it took approx 70 days from purchase to resell listing.

UPDATE, home sold for $50k with us having total of $20k into the home. $30k profit not accounting for taxes and sales fee of 5%.

What made you interested in investing in this type of deal?

Investing in mobile homes is a low risk high reward method of investing that has proven to be very profitable and fun.

How did you find this deal and how did you negotiate it?

This deal came in off of a google add placement that I made several months prior.

How did you finance this deal?

Personal cash split 50/50 between my business partner and I.

How did you add value to the deal?

We did some work on cleaning up the outside, bringing it up to specs of the park. We also did interior work such as drywall, paint tape etc

What was the outcome?

Very good outcome, made some money.

Lessons learned? Challenges?

Don't hire discount contractors and instead pay for the best you can find. They are worth it if they get it done properly.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

We did list the home with an agent for a 5% fee.