All Forum Posts by: Chris Barnhill

Been doing house flipping for over 20 years. It is okay but every body and their brothers are doing it. The margins are tight and the home runs are too far and in between. Skip residential and go to commercial. I think that is the way to go. And when I say commercial that can be anything but residential.

I come across several good deals and I am very experienced but do not have enough capital for down payment. Any suggestions?

I am in the Myrtle Beach, South Carolina area. Our zoning board has gone crazy. MHP zoning would be next to impossible but even zoning that makes since they are shooting it down. The only way to do it here is to buy a MHP an old park and turn it into one with higher density.

Been using Quick but looking for a more in depth software to manage properties. One that would include accepting credit cards, sending out late notices, add late fees, unit details and more. Any suggestions and why?

Investment Info:

Mobile home other investment.

Purchase price: $130,000
Cash invested: $100,000
Sale price: $960,000

Acquired a partly built mobile home park, built it out and sold the lots and homes together.

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

Been in manufactured home sales and development all my life. I believe this is one of the most untapped business' in America.

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

Talking to a friend of ours about purchasing some vacant land.

How did you finance this deal?

Local bank.

How did you add value to the deal?

We built the community out, sold homes from our dealership and capitalized on the home and land.

What was the outcome?

Made HUGE Profits.

I say go for it! There is plenty of upside potential. I mean how many opportunities do you get for this cheap? You are talking about Georgia. There is plenty of places to find used homes you just have the take your time and look. Those vacant lots are an opportunity to add huge value one you infill each one. Do not try to remove all abandon house at once since that will drain your pocketbook. Instead find 2-3 of them and repair. This rent will go to your bottom line and add cash flow. The only way I would say this is a no go is if it was in a rough crime area.