My very FIRST deal (a mobile home)

[Mario Gonzalez]

Investment Info:

Mobile home buy & hold investment.

Purchase price: $10,000

Bought the Mobile home as-is from an out-of-town person whose parents, unfortunately, had just passed. The seller was the only heir and he needed to sell ASAP so he could move on.

We agree on the price and became very good friends! we still talk to this day.

My uncle (a very good handyman) helped me to fix some minor issues, power-washed the place, paint the interior, and cleaned it up.

2 months later I met a very good man whose family situation was hard at the moment.
His landlord passed and the heir of the property kicked him out and his family of 5.
Fortunately, we find eachother and he currently lives in this nice mobile home that he now calls home.

We became very good friends too! and he is planning to buy this home for his family in the near future.

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

The opportunity to help 3 individuals with their families at the same time is amazing!

The seller was in need to sell ASAP so he could move on with his life after his mother's death

I wanted to invest to gain some experience and move towards my goals

The tenant was desperate to find a place for his family of 5 after being kicked out of his previous house by the heir of the property after the landlord's death.

Both the seller and my tenant became my friends.
The 3 of us are happy!

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

I found it on Facebook

How did you finance this deal?

bought cash

How did you add value to the deal?

I just listened to the seller and asked what he needed, we agreed and we closed

What was the outcome?

3 happy individuals
The Seller
The Investor
and The Tenant

Lessons learned? Challenges?

The GREAT deals are those in which every party ends up in a better situation after closing.

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

For this deal, I only worked with the seller.