Mobile Home Park Investment

[Lia Irvin]

Investment Info:

Mobile home buy & hold investment.

Purchase price: $400,000
Cash invested: $80,000

Small Mobile Home Park with 8 doors, Workshop, 2 RV Spots, and office. 5 Acres

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

Location and cash flow

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

MLS

How did you finance this deal?

Local Lender, 5 Year ARM, 20% down

How did you add value to the deal?

Pre-Closing: I am licensed so took my brokerage fee and used it towards down payment. Post-Closing: opened up storage units or rent to tenants, improved condition post-closing. Marketing RV spots now.

What was the outcome?

Successful closing and took ownership into the new year, Jan 2022

Lessons learned? Challenges?

This deal has been great so far, my only regret is waiting too long to setup new leases, I would have put that on the seller to execute for me prior to closing.

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

I am an agent, self-represented, worked with LA