First Investment Property

[Todd Uebe]

Investment Info:

Mobile home buy & hold investment.

Purchase price: $6,500
Cash invested: $13,500

Purchased land and home for cash. In the process of Rehabbing the home now. Planning on renting out the property when completed.

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

I don't much of a retirement plan at work. I figured several rental properties would provide a decent income in my later years.

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

I live in the neighborhood and saw the sign in front of the house. It was the same agent that sold me the current house I live in. The entire deal was put together over text messaging.

How did you finance this deal?

Cash

Lessons learned? Challenges?

It is difficult to find a contractor that does good work for a fair price.

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

Hayli Cagle with Keller-Williams Realty Shreveport, LA

[Todd Uebe]

Good to other people from Shreveport on here Michael Faulk. I spent some of my teen years  in Janesville, WI Calvin Ozanick. 

I started the Rehab 1st week in January. I hope to be finished end of February. The mobile home was on the property and it is what I could afford to pay Cash for in the part of town I wanted to be in. I don't necessarily prefer mobile home units. I expect to get $650 - $750 per month based on what other 3br / 2ba mobile homes in the area are renting for. I have some good before and after pictures. 

So far:

Property $6500

Rehab $7500

Septic $3500

Electrical $800

HVAC $600

Hoping to Stay under $20K