My First Investment

[Liam Story]

Investment Info:

Mobile home buy & hold investment in Branson.

Purchase price: $185,000
Cash invested: $37,000

1 out of 9 lots empty with rent being significantly lower than market price. Mostly retirees who pay rent on time (if not early). Plan to buy a trailer and do a lease option on the empty lot to increase cashflow.

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

Tenants were very responsible and paid their rent on time which makes the property incredibly easy to manage.

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

Through my realtor.

How did you finance this deal?

80% loan 20% down with my bank.

How did you add value to the deal?

I will slowly be raising rent as the cheapest lot rent in this area is $225/month (for a rundown park in a bad area) and lot rent established by the previous owner is only $175/month. I am also about to purchase one of my tenant's mobile homes at a great deal. I can secure 100% financing so I will be able to do a lease option with the trailer and start cash flowing day one. If that goes well, I will do the same with the empty lot which should also help increase my equity.