One Single Family, One Singlewide, 5 acres

[Kim Warren-Page]

Investment Info:

Other buy & hold investment.

Purchase price: $73,000
Cash invested: $5,000

One Single Family Brick Home and One Singlewide on 5 acres

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

At the time, my husband and I were still running a residential plumbing company. For SEO purposes, we needed our office to have a Greenville address. We also wanted more visibility for our trucks and signs. This property offered both. It also cash flowed for us because on the rentable singlewide on the property. It was an office-hack instead of a house-hack. Since then, we have downsized our plumbing company to one truck (being run by our son). So, both properties are now rented.

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

Our realtor, a friend since middle school, found this deal.

How did you finance this deal?

We financed this deal with an SBA loan through our plumbing business.

How did you add value to the deal?

We rehabbed the singlewide to be able to charge higher rent.

What was the outcome?

It cash flows! Not as well as our trailer parks, but it does provide monthly income for our family of eight.

Lessons learned? Challenges?

We did not order a survey of this property at the time of purchase. Moving forward, we will always request or order a survey.