Investment Info:
Mobile home buy & hold investment in Glenburn.
Purchase price: $54,000
Cash invested: $54,000
This was a fun adventure, talk about a win win win!! We did the entire project through facebook marketplace. We found a nice piece of land at a great price by paying cash and closing quick to help out the seller. It had an older MH on it that was not worth fixing up but the utility hook ups and pad were in great condition. We post the trailer for "Free" on FB and within a week someone was hauling away their new home = They got a home and we saved 5k worth of demo work. We bought another mobile home off FB from a couple needing to move and put it on the land, only needing some minor updating. It's now listed on cozy and we're looking to do a rent to own. So many unique challenges and solutions on this one, it was quite fun and the biggest win for us were all the leads and connections we made along the way. Moving on to the next adventure....
What made you interested in investing in this type of deal?
We kept hearing that mobile homes are great income generators.....so....let's give it a shot!
How did you find this deal and how did you negotiate it?
Everything was found and purchased and sold through FB marketplace.
How did you finance this deal?
our pockets
How did you add value to the deal?
Took separate, less valued pieces and put them together. The sum of the whole is worth more than the parts.
What was the outcome?
Currently screening tenants to achieve a rent to own 5-10yr goal.
Lessons learned? Challenges?
There's always a way, and someone there you can help and that is ready to help you.
