All Forum Posts by: David Scott

Thanks everyone, this will definitely help while we search.

I read a book (Invisible Deal) and it recommended only Working on manufactured/mobile homes that were 1985 or newer. Have any of you ever rehabbed and older model?

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Casa Grande.

Purchase price: $85,000
Cash invested: $21,250

First investment, older empty triplex. Now fully rented and cash flowing well.

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

Good ROI. Growing area in Casa Grande AZ.

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

Triplex had been sitting empty for a while. I low balled an offer, they countered back and we accepted.

How did you finance this deal?

HELOC cash purchase. Then refinanced.

How did you add value to the deal?

Fixed interior new evaporative units, cabinets and tile throughout.

Lessons learned? Challenges?

Older homes need more than cosmetic work. Sewer pipes had to be replaced ($1500) but after that no more issues.

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

David Schlagel, Real Estate Agent from Coldwell Banker. He finds great deals!