All Forum Posts by: Molly Fusco

Thank you Steve!

Hey Bigger Pockets Members of Tallahassee!

We will be having a Real Estate Investor meet-up at Midtown Caboose (look for us outside, typically we have a BP sign) for anyone interested! Investors, Wholesalers, Agents & all are more than welcome to join us at 6 pm. No fees, no soliciting, just grab a bite to eat or drink and meet some local lovers of Real Estate! If you can't join us this meeting don't worry, be happy because we have a meet-up every month on the last Wednesday of the month at 6pm at Midtown Caboose! See you all soon!

Molly 

Hey, 

I recently remodeled a mobile home in Florida. I've had it on the market for a couple months now. I was under contract for asking price $154k in a couple of days and then the buyers fell out due to insufficient funds three days before closing & I gave them 5 weeks to close! The buyer wanted to get a FHA loan. During this process, I learned that there is a gap of 5 years where they aren't sure where the mobile home was which means FHA loans may not work on the mobile, but they said the engineer may be able to write something up that will work. So I'm not sure if someone can get a FHA loan basically. The market is changing and mobile homes are a bit tricky lol. Anyways the neighbor across the street really wants to buy the home. She came over every week during the renovations, has been texting and calling me to check up on the property. She wants to buy it for her niece and has been really wanting this home from the start. I'm starting to think about selling it to her. I was wondering if I should due Rent to Own or Seller Finance. She wants to rent it, we agreed upon $1500/ month she would pay taxes and I pay insurance until she can give me $20k down or something. I have never done either! Looking for help. I will call my attorney tomorrow and chat with him, but wanted to put this out there. Also, my husband and I renovated this home with our own cash, no mortgage and it would be nice to have $40k to pay back a private lender for another property we just bought right now, but other than that, we don't really need the money. My husband doesn't want to BRRRR this btw. Thanks for the tips and advice in advance!

Hey, if you are interested in learning, sharing and meeting some local investors come grab a drink and food with us at Midtown Caboose at 6pm. Most of the time we sit outside & sometimes I have a BP sign to help find us lol

Hello! The meet-up is going to be pushed back to next Wednesday 2/1/23. No meeting on 1/25/23. Sorry for the inconvenience. 

Hey Tallahassee,

Come join us for a drink/food as we talk shop about all things real estate investing. No pitches, no fees. Make new friends, find deals, sell properties, and come be apart of the Bigger Pockets Tallahassee meet up! It's the last Wednesday of every month. Find us on the Facebook group Bigger Pockets Tallahassee. We change locations from time to time. This month it will be at Midtown Caboose. 

Happy Holidays everyone we will be having our last meet-up of the year at World of Beer, Tallahassee, FL at 6 pm. It's been wonderful to meet so many of you in the local Tallahassee area. We hope to see you tonight!

Hey @Rachel H. thanks. I thought I was putting this post on my page, didn't realize I put it in a forum lol. It is crazy to think how I got the deal, I'm amazed now I think about it. It seemed normal at the time. I've had a few struggles or set back with contractors and it took a couple of months to close on the deal due to title issues. I'm not complaining, this is my first major flip! Flooring just went in, overall about 4months to renovate, basically built it from scratch. Hoping to sell it for $140-$145k. What do you think? Wish me luck! 

Investment Info:

Mobile home fix & flip investment.

Purchase price: $18,900
Cash invested: $70,000

Built1985. 3bedrooms/2 bath. 1250 sq ft mobile home, remodeled and sold. Basically built a new home.

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

It was off-market and had a great price tag

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

By meeting a lady at a car shop and looking at the property she was telling me about

How did you finance this deal?

CASH

How did you add value to the deal?

Renovated the mobile home

What was the outcome?

SO FAR SO GOOD

Lessons learned? Challenges?

Yes, hire contractors based on experience, overall reputation in the community, referrals and not the least expensive!

Hey Real Estate Investors of TALLAHASSEE!!!

Our next meet-up is this Wednesday night at World of Beer at 6 pm. Meet some of the local investors in town, learn more about real estate and our community, and make some friends :)