Seller Financing 16 Unit Mobile Home Community with 10 Park Owned Homes

[Logan M.]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $700,000
Cash invested: $32,000

This community consists of 16 spaces, 4 Tenant Owned Homes, 2 Vacant Spaces, and 10 Park Owned Homes.

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

0% down Seller Financing and an incredible amount of potential.

Geographically it is also very advantageous to my operations.

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

I found this property on KSL.com under their classified ads.

How did you finance this deal?

0% down Seller financing, 30 amortization at 7% interest.

How did you add value to the deal?

Implementing Clean-up, making repairs, filling two vacant spaces, and selling all of the homes.

Lessons learned? Challenges?

Have enough time set aside for due diligence of the books.

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

I represented myself because I am a licensed Broker in Utah.