His niche is very different from what I am familiar with, so I'm having some trouble running the numbers and I thought I'd turn to you guys.So he(my relative) has been doing this exact strategy for a few years and has done a good number of deals(~40) so I'm confident he knows what he's doing, but his strategy is as follows:Buys a distressed trailer(mobile/manufactured home) repairs it, and then sells it to a tenant that either can't qualify for a normal loan, or doesn't have the money to purchase a normal home.So for this particular deal, the numbers are as follows.Purchase price of $5750.Rehab of $8000.Rehab should take roughly 3-5 days.Selling we are assuming a month, but he says typically less.Taxes are around 600/yr(which the new owner will pay) but accounting for the month we have it, $50.The lot rent for the trailer is $350.Closing costs would be maybe ~$100.We'd sell it for ~22k, with a down payment of 2k at 14% interest for 75 months.So our purchase and rehab would be ~$13850, plus a month of holding for $14250.We'd get 2k back bringing our investment back down to $12250.We'd bring in 400/mo from the mortgage payment.As far as I can tell, this would be about 35-40% cash on cash return.Please go over these numbers and tell me if I'm missing anything.

The house is manufactured, my lender thinks she may be able to finance them, which would alleviate all of this and would be my preference.  

A few of us are interested in buying land in New Orleans/Kenner, prefer utilities in order to install double wide manufactured homes.

I am 24 years old and currently work in the accounting department for a manufacturing company. 

I have to an oppertunity to get a new Modular home ( NOT Manufactured home) at dealers cost!

You need to find someone who is very reputable first and foremost.

Hi all,I am looking for feedback on a deal I am working on.I have a 2 bd / 1 bath manufactured home, all cash for $17,000, which does not own the land. 

I talked to a lender and he said that I can use the 203k loan to obtain land and put a manufactured home on there (and put permanent foundation on there).

Hello All,My business partner and I are looking to network with reputable wholesalers and residential brokers in the Greater Cleveleand area.

Does anyone have experience or know any reputable brokers, small banks, or attorneys in Cincinnati, Ohio that I could meet with about using retirement funds to purchase an investment property?