My $4K investment purchase

[Jeremy Holcomb]

Investment Info:

Mobile home buy & hold investment in Palatka.

Purchase price: $4,000

I will spend $8-15K for rehab. Just purchased on Tuesday. We will start rehabbing next week.

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

The crazy price!

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

I found it perusing through online ads. I did not ask for a better price.

How did you finance this deal?

100% financed by seller due to not being able to get warranty deed until next June.

Lessons learned? Challenges?

You have to wait 4 years after a tax deed is issued to get a warranty deed.

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

Olde Town Title Company in St. Augustine, Fl