Buying a mobile home to flip cost more than projected

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Investment Info:

Mobile home buy & hold investment.

Purchase price: $10,000
Cash invested: $15,000

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

Cash offer, small project, quick turnover

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

MLS and cash offer with quick close

How did you finance this deal?

Cash

How did you add value to the deal?

Complete gut and remodel

What was the outcome?

Total renovation with new appliances and cabinets in kitchen and bathroom including all new laminate flooring throughout and porcelain tile in bathroom.

Lessons learned? Challenges?

Flipping a mobile was challenging because nothing was of standard size. Doors, windows, water heater, appliances, all had to be smaller/special order. This was a costly mistake when it came to my budget.

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

Ali Ginnett with Agnelli Real Estate.