All Forum Posts by: Account Closed

Congratulations Abraham! Great work and advice. Follow your dreams! I am just starting out at age 50. I aspire to be just like you when I grow up! :)

Yes, I've learned some valuable lessons in this flip. I definitely will not flip a mobile again. I've decided to work smarter not harder and start investing in multi-family commercial units. Two flips was enough for me! :)

Investment Info:

Mobile home buy & hold investment.

Purchase price: $10,000
Cash invested: $15,000

1967 Marlette two-bedroom, one full bath mobile with galley kitchen, including breakfast counter opens up to dining area and spacious living room.

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

Cash offer, small project, quick turnover

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

MLS and cash offer with quick close

How did you finance this deal?

Cash

How did you add value to the deal?

Complete gut and remodel

What was the outcome?

Total renovation with new appliances and cabinets in kitchen and bathroom including all new laminate flooring throughout and porcelain tile in bathroom.

Lessons learned? Challenges?

Flipping a mobile was challenging because nothing was of standard size. Doors, windows, water heater, appliances, all had to be smaller/special order. This was a costly mistake when it came to my budget.

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

Ali Ginnett with Agnelli Real Estate.

Investment Info:

Mobile home buy & hold investment.

Purchase price: $10,000
Cash invested: $15,000

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

Cash offer, small project, quick turnover

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

MLS and cash offer with quick close

How did you finance this deal?

Cash

How did you add value to the deal?

Complete gut and remodel

What was the outcome?

Total renovation with new appliances and cabinets in kitchen and bathroom including all new laminate flooring throughout and porcelain tile in bathroom.

Lessons learned? Challenges?

Flipping a mobile was challenging because nothing was of standard size. Doors, windows, water heater, appliances, all had to be smaller/special order. This was a costly mistake when it came to my budget.

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

Ali Ginnett with Agnelli Real Estate.