$15,000 Singlewide Sold for $98,000!

[Jason Velie]

Investment Info:

Mobile home buy & hold investment in Leland.

Purchase price: $15,000
Sale price: $98,000

Grand Slam Deal! 16 year old Singlewide on permanent foundation bought from a wholesaler. Less than $3,000 spent on repairs. Occupied at $700/mo while I owned it. Resold for $98,000 (minus closing costs and a buyer's agent commission). Proceeds went to my Qualified Intermediary for the 1031 exchange that I am doing (my first 1031), where these proceeds will be the down payment of the off-market 8-plex that I will close on in July 2021.