Mobile Home MEGA Makeover

[Paul Meyer]

Investment Info:

Mobile home buy & hold investment.

Purchase price: $67,000
Cash invested: $140,000

Mega mobile home makeover sitting on 5 acres. After a $140k reno it's a little paradise on airbnb. Currently goal around $60k revenue.

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

Price and location. Comps.

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

Xome.com Bought off auction unseen.

How did you finance this deal?

Equity line of credit - cash.

How did you add value to the deal?

Renovated entire home and a lot of landscaping.

What was the outcome?

High ARV and solid airbnb rental.

Lessons learned? Challenges?

Mobile homes can be more difficult to do a reno also JUST as expensive for a 1996 home.

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

No