AWESOME cash flow cow

[Dylan Bennett]

Investment Info:

Mobile home buy & hold investment.

Purchase price: $25,000
Cash invested: $25,000

Purchased a mobile home in a great mobile home park for 25k. I showed a property to a couple who were looking to buy a home. We ended up discussing a property they owned at a mobile home park and they were willing to sell it for 25k. This property rents out for $1,050 a month. I am going to improve the property with minor interior renovations that should raise rent to around 1300. There is a lot fee of about 350 a month, but that is the only fee associated. The taxes are ONLY 250 a year since it isn't "Real property".

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

Cash flow, cash flow, cash flow

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

Off market, asked my clients if they had any properties. They were interested in selling, I was interested in buying. They would not be able to sell the mobile home for 25k because it truly is valued more around 15k.

How did you finance this deal?

Cash purchase

How did you add value to the deal?

n/a

What was the outcome?

cash flowing property of $700 a month

Lessons learned? Challenges?

You never know if someone has a property they are interested in selling, so just ask.