2 Mobiles on 3.5 Acres

[William Bratrud]

Investment Info:

Mobile home fix & flip investment.

Purchase price: $290,000
Cash invested: $90,000

We bought this Home in really bad condition.... Rattlesnakes living in the house, holes in the subfloor, dead rabbits in the crawlspace. After four 40 yard dumpsters and $90K later this thing was a gem and sold for $43K over appraised value.

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

Very Unique property, great views, great price!

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

Zillow, Called listing Agent and made an offer through them. They went to bat for me : )

How did you finance this deal?

All cash

How did you add value to the deal?

filled up four 40 yard dumpsters of trash and burned through $90K in rehab

What was the outcome?

Made $100K when it was all said and done!

Lessons learned? Challenges?

Flipping is tough when you run another business full time. Id rather hold than sell. $100K is nice but taxes stink and residual income is more important when its all said and done.

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

Not on this deal : )