3x Returns on a tax deed - used mobile home property

[Tiffany Da Silva]

Investment Info:

Mobile home fix & flip investment.

Purchase price: $12,000
Cash invested: $55,000

Bought the land at a tax deed sale, added a used mobile home, now worth 3x my initial investment.

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

Low initial capital needed, great margins, & I've never seen anyone else do the same!

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

Tax deed sale, no negotiating needed.

How did you finance this deal?

Paid all upfront.

How did you add value to the deal?

added a used mobile home to the property and remodeled the inside + rented it out.

What was the outcome?

Wasn't able to sell at asking price since the home is hard to find conventional lending for, so I rented it for a high Cash on cash return.

Lessons learned? Challenges?

the whole thing! From buying my first property at a tax deed sale, learning about liens, bringing a used mobile home from over an hour away to the property, to having to remodel the whole interior and exterior. Plus had to deal with county permits and how to rent it for a profit!

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

Worked with Realtor Lucy Martins in the Ocala Area.