All Forum Posts by: Joe Van

Investment Info:

Mobile home buy & hold investment in Glenburn.

Purchase price: $54,000
Cash invested: $54,000

We did the entire project through FB marketplace. Found a piece of land at a great price, paid cash and closed quick to help out the seller. It had an older MH on it not worth fixing up but utility hook ups and pad were great. Posted the trailer for "Free" on FB and within a week it was hauled away = Someone 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.

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?

cash

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.

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.

Investment Info:

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

Purchase price: $140,000
Cash invested: $30,000

3 Unit in nice residential area of Waterville, ME

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

Realtor

How did you finance this deal?

Commercial loan

How did you add value to the deal?

Increased rents for units 2 and 3

Investment Info:

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

Purchase price: $127,500
Cash invested: $41,052

Remodeled Duplex in quiet residential area.

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

Realtor

How did you finance this deal?

Conventional loan

How did you add value to the deal?

- Walled off old garage doors in basement
- renovated kitchen in unit 1

What was the outcome?

increased rents from:
Unit 1: $750 to $900
Unit 2: $850 to $975

Investment Info:

Single-family residence fix & flip investment in Waterville.

Purchase price: $57,000
Cash invested: $26,000
Sale price: $123,875

Fully renovated SFH in nice neighborhood.

How did you finance this deal?

All cash

How did you add value to the deal?

Fully renovated inside. Moved the WD from basement to 1st floor. Converted dinning to 3rd bedroom and mudroom to dinning room.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $47,000
Cash invested: $75,000

First investment property deal I did. It was a HUD foreclosure that I took the BRRRR approach on. Currently have great tenants and used the Refi to purchase and renovate house #2.

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

HUD Foreclosure

How did you finance this deal?

All cash

How did you add value to the deal?

Complete remodel of kitchen. New flooring and paint throughout. Exterior touch-ups & landscaping.