Mobile Home in Rexburg

[Giovanni Aquino]

Investment Info:

Mobile home buy & hold investment in Rexburg.

Purchase price: $28,000
Cash invested: $1,000

Rental

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

Saw cash flow possibility.

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

Found it on Facebook. Bought it quick.

How did you finance this deal?

Cash Advance from a couple credit cards just to buy the home quick. The remaining balance is now transferred to a HELOC on my Wisconsin Property.

How did you add value to the deal?

New flooring, new paint, and other minor cosmetic updates.

Lessons learned? Challenges?

It is extremely hard to find financing for a single wide mobile home as an investment property.

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

No.