Mobile Home Investing

[Ben Naught]

Investment Info:

Mobile home fix & flip investment in Canby.

Purchase price: $1
Cash invested: $6,200
Sale price: $30,800

Contributors:
Tyson Mazingo

Mobile home purchased for $1 needs estimated repairs of $4000-$4500 . Home is being relocated to a mobile home park in Roseburg OR. Where I will renovate the property with the help of a local contractor.
UPDATE***** 12/19/2018
I'm learning a lot, I'm definitely at the end of my budget for this home as it took more that expected to get it to what i felt comfortable and reliable. The home has already been sold and the family will be moving in within a few days! I'd like to tip my hat to @John Fedro for all of his content that is available for all to learn. That coupled with the need to succeed has brought this project to a close. I will take this moment to thank two gentlemen that helped make this a reality as well. Shelby Arnold & Tyson Mazingo for seeing though the rat race and making a real run at financial freedom!
Days spent under the homes, in the walls, replacing and repairing is certainly not scale-able but none the less was a great learning experience to further direct contractors in the future. ;)

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

Years of trial and error, From single family to an RV Park the want to own mobile home parks has always been in me. Flipping mobile homes for owner finance is right on point. Its the gate way drug to owning mobile home parks in the near future. As I rub shoulders with park Owners, Managers, and tenants I'm bound to come across a park deal that will work in my favor.

How did you finance this deal?

My business account funded from wholesale deals that I keep in the pipeline to fund all of the rehab and marketing.

[John Fedro]

Hi Ben,

First things first, congratulations with regards to this home! There will absolutely be many more for you in the near and distant future. Great job pulling the trigger and being available for this park, seller, and buyer. 

Repairs can absolutely go longer than expected, however it sounds like you certainly have some wiggle room with regards to your sales price. I’m curious if you sold all-cash or via payments, however in your area you can likely do both without too much time. Either way, great job again. The credit goes you for putting this all together and getting it done. Keep up the great work moving forward. Thanks again for sharing. As always, if you ever have any mobile home related questions never hesitate to reach out to us here as were all happy to help.

Talk soon,
John