first investment in works

[Emmanuel Otero]

Investment Info:

Mobile home other investment in Cheyenne.

Purchase price: $2,800
Cash invested: $7,000

I bought this mobile home as primary residence but am now thinking of either selling or renting for cash flow. After all my work i can sell mobile for up to $25,000 and as low as $18,000. It was completely done by me with very little help. New drywall, majority new electrical, new plumbing, ac unit, windows, doors, subfloors, bath, kitchen everything new.

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

My wife wanted our own place vs renting.

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

Met owner thru 3rd party. Originally priced at 5k. offered 2k. fish didn't bite. got contacted months later to see if I was still interested and was told price dropped to $2800. Paid $2750.

How did you finance this deal?

cash was king

What was the outcome?

bought and renovated completely

Lessons learned? Challenges?

don't deal with people who act shady.

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

none on this deal