Mobile Home wholesaling

[Ben Naught]

Investment Info:

Single-family residence wholesale investment in Molalla.

Purchase price: $1
Cash invested: $100
Sale price: $10,000

This is a mobile home that I did a wholesale deal on to another investor and sold for a nice profit. The plan was to move this home to a park that I had picked out but the timeline to remove it from the property ran short so we were forced to wholesale. Still a very exciting day.

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

The need for capitol to keep renovations going on other projects without dipping into portfolio income is the main reason that drove me to do this wholesale. Wholesaling is very exciting, I enjoy the hunt and the thrill of providing someone else with a good deal and still profiting from it!

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

I found this deal by posting a simple add on facebook asking if anyone had mobiles they needed moved. When I got this call I wanted the house so I signed for it and had plans to take it to a park fix and resell on payments for 10 years. I had several other homes at the same time and the timeline to get the home off of the property simply ran out so I chose to sell to an investor that I found by placing an add on Craigslist. Thanks to Bigger Pockets & John Fedro!

How did you finance this deal?

I financed this deal with my own cash from earned income.

How did you add value to the deal?

I added value to this deal by finding someone who valued it.

What was the outcome?

I sold the home in 2 weeks for $10,000 cash to an investor that is going to have the home moved off of the land.

Lessons learned? Challenges?

Do more advertising and do more wholesaling.

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

no