All Forum Posts by: Ben Naught

Hello Bigger Pockets, I currently own mobile homes as rental properties in Oregon State. I've got an opportunity to purchase 19 mobile homes at one time in the same park out of Las Vegas , NV. I'm hoping to find a partner on the deal that can provide capitol for the venture. I do have a way to do 100% financing on this deal but will get a much better deal if purchased with cash. If you or someone you may know has interest in partnering on a deal let me know. 

Thanks and happy holidays!!!!

@Eric Ducommun Thanks Eric, yes this was the first wholesale I had done. I currently have another two more wholesale House's I just purchased this last week lined up. My goal is to do one wholesale per month as well as one mobile home purchased rehabbed and resold on owner finance in turn using some of the profits from the wholesale to fuel the engine for long term. Merry Christmas Eric, Ben Naught Jr.

Investment Info:

Single-family residence wholesale investment in Molalla.

Purchase price: $1
Cash invested: $100
Sale price: $10,000

This is a mobile home that I did a wholesale deal on to another investor and sold for a nice profit. The plan was to move this home to a park that I had picked out but the timeline to remove it from the property ran short so we were forced to wholesale. Still a very exciting day.

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

The need for capitol to keep renovations going on other projects without dipping into portfolio income is the main reason that drove me to do this wholesale. Wholesaling is very exciting, I enjoy the hunt and the thrill of providing someone else with a good deal and still profiting from it!

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

I found this deal by posting a simple add on facebook asking if anyone had mobiles they needed moved. When I got this call I wanted the house so I signed for it and had plans to take it to a park fix and resell on payments for 10 years. I had several other homes at the same time and the timeline to get the home off of the property simply ran out so I chose to sell to an investor that I found by placing an add on Craigslist. Thanks to Bigger Pockets & John Fedro!

How did you finance this deal?

I financed this deal with my own cash from earned income.

How did you add value to the deal?

I added value to this deal by finding someone who valued it.

What was the outcome?

I sold the home in 2 weeks for $10,000 cash to an investor that is going to have the home moved off of the land.

Lessons learned? Challenges?

Do more advertising and do more wholesaling.

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

no

Investment Info:

Mobile home fix & flip investment in Canby.

Purchase price: $1
Cash invested: $6,200
Sale price: $30,800

Contributors:
Tyson Mazingo

I'm learning a lot, I'm definitely at the end of my budget for this home as it took more that expected to get it to what i felt comfortable and reliable. The home has already been sold and the family will be moving in within a few days! I'd like to tip my hat to @John Fedro for all of his content that is available for all to learn. That coupled with the need to succeed has brought this project to a close.

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

Years of trial and error, From single family to an RV Park the want to own mobile home parks has always been in me. Flipping mobile homes for owner finance is right on point. Its the gate way drug to owning mobile home parks in the near future. As I rub shoulders with park Owners, Managers, and tenants I'm bound to come across a park deal that will work in my favor.

How did you finance this deal?

My business account funded from wholesale deals that I keep in the pipeline to fund all of the rehab and marketing.

Investment Info:

Mobile home fix & flip investment in Canby.

Purchase price: $1
Cash invested: $6,200
Sale price: $30,800

Contributors:
Tyson Mazingo

Mobile home purchased for $1 needs estimated repairs of $4000-$4500 . Home is being relocated to a mobile home park in Roseburg OR. Where I will renovate the property with the help of a local contractor.
UPDATE***** 12/19/2018
I'm learning a lot, I'm definitely at the end of my budget for this home as it took more that expected to get it to what i felt comfortable and reliable. The home has already been sold and the family will be moving in within a few days! I'd like to tip my hat to @John Fedro for all of his content that is available for all to learn. That coupled with the need to succeed has brought this project to a close. I will take this moment to thank two gentlemen that helped make this a reality as well. Shelby Arnold & Tyson Mazingo for seeing though the rat race and making a real run at financial freedom!
Days spent under the homes, in the walls, replacing and repairing is certainly not scale-able but none the less was a great learning experience to further direct contractors in the future. ;)

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

Years of trial and error, From single family to an RV Park the want to own mobile home parks has always been in me. Flipping mobile homes for owner finance is right on point. Its the gate way drug to owning mobile home parks in the near future. As I rub shoulders with park Owners, Managers, and tenants I'm bound to come across a park deal that will work in my favor.

How did you finance this deal?

My business account funded from wholesale deals that I keep in the pipeline to fund all of the rehab and marketing.

Hello, I am currently considering using this service. Did you end up using it? If so what did you think of it? 

I'm a mobile home investor purchasing mobile homes in parks to resell to qualified buyers on owner finance. I really like the PDF that the BP Calculators provide for sharing the details of property analysis. Unfortunately I don't know what calculator would work for this strategy as I'm not renting it but selling it on owner finance and its not a fix and flip nor a BRRRR to my knowledge.

Any insight on the best way to do this would be great. Thanks so much in advance. 

Cheers.    

@Karen Margrave I myself am an investor and would like to find others to network with yes well put. 

I'm mainly focusing on mobiles in parks but am not apposed to mobiles on land as well. 

I am hoping to find folks to talk shop with. Go out and look at mobiles with work numbers maybe even go in on some homes with. 

Do you love mobile homes??? I'm looking for some folks in the Portland, Molalla, Albany, Salem, Eugene, Bend, Oregon area and surrounding to meet up with and talk shop. Lets go see some mobiles! 

I enjoy purchasing mobile homes and putting qualified buyers in them for a profit! Owner finance preferred but not apposed to light rehab and flip for cash either. 

I'm noticing that it is rare to find folks that enjoy talking investments. Folks that enjoy looking at property, working numbers. 

I'm actively investing in mobile homes in Oregon state and maybe others in the near future so if you're into mobiles lets get together. 

I had a quick question. I am finding mobile homes to invest in as far as purchase and flip as well as purchase resell on payments with a down payment. 

My question is that i have investors that are willing to partner with me but understandably want to see a proper work up of the numbers. What BP calculator should i be using for the fix and flip mobile home as well as what calculator should i be using for the purchase and resell mobile home on payments owner finance? I am very excited to see the results in the printable downloadable pdf of bigger pockets.

Thanks so much