Southern California $100K+ Profit flip

[William Bratrud]

Investment Info:

Mobile home fix & flip investment.

Purchase price: $290,000
Cash invested: $90,000
Sale price: $523,000

We bought this property in really bad condition.... Rattlesnakes living in the house, holes in the subfloor, 10 dead rabbits in the crawlspace. After four 40 yard dumpsters and $90K later this thing was a gem and sold for $523K which was $43K over it's appraised value.

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

3+ Acre Ranch Property, two homes on the lot, Gorgeous views and close proximity to where I lived at the time.

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

Contacted the listing agent direct and worked up a strong cash offer

How did you finance this deal?

Cash

How did you add value to the deal?

See the pictures

What was the outcome?

Made great profit......Cleared over $100k after closing costs

Lessons learned? Challenges?

Hit the market right after Covid hit. Was scary timing but in the end I think it worked in our favor as Covid contributed to somewhat of housing supply shortage as well as increased demand in larger rural properties with people wanting to flee the cities.

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

My Mom actually brokered the back end of this deal. She is retired or I would recommend her.