All Forum Posts by: Derek Wheeler

@Rachel H. Thats what drew me to these manufactured homes! The price range in this area is 20k-40k for fixer uppers and I am able to take my time working on the property without sitting on a mortgage payment! I am hoping this will be a good way to build more capital to start investing in multifamily!

@Altie Jenkins Great question! To get that ARV, I looked at recently sold similar properties in the last 6 months on realtor.com and also met a few neighbors that have been in the neighborhood for years. They gave me some good insight about the pricing in the area as well!

To get the numbers for the rehab, I called around for quotes on the areas of the property that needed work and the areas I could do myself, I went to hardware stores in the area and added up the material cost from there!

Investment Info:

Mobile home fix & flip investment.

Purchase price: $21,000

I purchased this 3 bedroom/2 Bathroom manufactured home cash for $21k in Kingman, Az. This property has a nice fenced in yard compared to other properties in the neighborhood. I am planning on doing most of the rehab myself with a budget of $20k. Compared with recent sales of similar properties in the area I believe the ARV to be $70k. My Plan B if I am not able to sell at this price will be a lease option. Let me know what you think! Any questions/critiques are encouraged!

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

I was interested in this deal because I was able to pay cash for the deal and the purchase of the manufactured home came with the land.

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

I found this deal on the MLS and I negotiated this listing from $28,500 down to $21,000.

How did you finance this deal?

I paid cash for the deal with saved funds.