10 acres wine country Temecula

[Thomas Porter]

Investment Info:

Mobile home wholesale investment.

Purchase price: $65,000
Cash invested: $270,000

Bought raw land and put a manufactured home on it as my primary res. And rent out portions of the land on various deals that cash flows 1200$ a month. Currently adding a sea container home for a Air B&B to see how it will do in the area and might pursue more of them......

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

Wanted to be out of the city and have some property for my kids to grow up on.

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

Driving around we found it.
negotiations were easy. A elderly gentleman owned it and just wanted to see it. Was asking 120k and I offered 65k cash and he just signed the deed over with no counter. 2010 you all know where the market was.......

How did you finance this deal?

Financed manufactured home only. Paid out of pocket for the rest.

What was the outcome?

Great! Would do it again and have helped a few others in my area do the same thing.

Lessons learned? Challenges?

Tons. Would share over a coffee or a cocktail

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

None.