We’re experiencing some turbulence, folks!

[Stanford Neal Mead]

Investment Info:

Mobile home fix & flip investment.

Purchase price: $105,000
Cash invested: $45,000
Sale price: $208,000

This project took way longer than expected. We had some unfortunate family events that took priority causing some delays on the flip. We also had two buyers fall through due to financing issues, which prolonged things a bit. Overall it was a great deal and a major learning lesson on manufactured homes.

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

Motivated seller called us.

How did you finance this deal?

We used our own funds.

How did you add value to the deal?

We completely transformed the interior and exterior of the home, adding features like tile backsplash, tiled tub & shower, master bath en suite with dual walk-in shower, new energy-efficient vinyl windows.

What was the outcome?

A beautiful home for our buyer and a nice profit for us!

Lessons learned? Challenges?

Learned a great deal about the pros and cons of working with mobile homes, especially when it comes to financing.

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

Brayden Bengtzen - Realtypath LLC
Charity Dodson - Richland Title & Escrow

[John Barrows]

Figure every deal you do, no matter what the price, the property or the type will need financing. I have always looked at the financing of any property a priority and have a list of financial institutions that can finance any deal I do.

All mobiles whether on land or on leased property I use 21stmortgageonline.com..... WHY? because they are the resource of most all brokers when it comes to mobile homes these days. They will do lease land mobiles that were built as late as 1965 and still finance them. I would basically, get a lap top, put the site on the lap top, then help the buyer (even if you have to go to their home) fill out the information then submit. Just some food for thought.