My first Real Estate deal (Fix & Flip)

[Derek Wheeler]

Investment Info:

Mobile home fix & flip investment.

Purchase price: $21,000

I purchased this 3 bedroom/2 Bathroom manufactured home cash for $21k in Kingman, Az. This property has a nice fenced in yard compared to other properties in the neighborhood. I am planning on doing most of the rehab myself with a budget of $20k. Compared with recent sales of similar properties in the area I believe the ARV to be $70k. My Plan B if I am not able to sell at this price will be a lease option. Let me know what you think! Any questions/critiques are encouraged!

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

I was interested in this deal because I was able to pay cash for the deal and the purchase of the manufactured home came with the land.

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

I found this deal on the MLS and I negotiated this listing from $28,500 down to $21,000.

How did you finance this deal?

I paid cash for the deal with saved funds.