1st mobile home 3/1 for 8500 plus rehab

[Donald Kelley]

Investment Info:

Mobile home buy & hold investment.

26x60 ft mobile home needed a fair amount of rehab 3 bedroom 1 bath

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

needed a place for a family member to stay

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

facebook market place paid cash so had a little leverage but found a motivated seller who needed cash fast

How did you finance this deal?

cash at 1st borrowed from a family member til our 401k was processed and then paid back our family investor

How did you add value to the deal?

a healty rehab from the floor up

What was the outcome?

a buy, rehab and rent for 200/ month cash flow

Lessons learned? Challenges?

mobile homes are a challenge be careful no your stuff and talk with the mgmt 1st before buying

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

no cash and simple transaction