Double Wide Mobile Home Buy and Hold Rental

[Cal Martin]

Investment Info:

Mobile home buy & hold investment.

Purchase price: $18,000
Cash invested: $5,000

Mobile Home Rental in southeastern Washington State.

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

It was affordable enough for me at a young age.

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

A for sale sign in the front window. It was listed for $25,000 but since there was only one other buyer who was only willing to pay $16,000 I made an offer $2,000 higher to secure the deal.

How did you finance this deal?

Parents had a HELOC open on their personal residence to fund a flip and they extended it and I pay the principle and interest for the portion that I borrowed from them.

How did you add value to the deal?

Put $5,000 into it around a year after purchase that I got from saving rents each month.

What was the outcome?

Buy and hold