Another deal Closed Over $18,000 in Profit, No Money Out of My Pocket

Another deal Closed Over $18,000 in Profit, No Money Out of My Pocket

I just closed on a deal yesterday that will net me about $18,500 in profits.

I was able to get a mobile home for free from a motivated seller. I borrowed $3000 from a friend to fix up the home. I just sold it yesterday to a very nice lady for $13,500.

How I'm making over $18K with it. This community doesn't allow owners to rent their homes. They only allow people to be owner occupied. So I sold the home on a contract. I got $1000 down from the buyer, she is paying me about $255 per month for the next 6 years. I am becoming the bank with this sale. She will be paying me %12 interest on the amount borrowed. I will make about $5000 in interest over the 6 years.

The thing is, this is the second time i'm selling this home. the first buyer had to move out he lost his job. He paid me back over last year and paid off what I had into the deal. So I just re sold it again and now we will make even more on this deal

This is why I love real estate, the possibilities are endless.

Good luck to all the investors out there, there are plenty of deals for all of us

__________________

I always say Keep Moving Forward! Never Give Up On Your Dreams!

As Matt Larsen says "Feed the Need" - Edge 2013

Follow my daily investing journal and read about the deals I've done and am working on at:

http://www.deangraziosi.com/real-estate-forums/investing-journals/117493...


Awesome!!!

Great Job!!!

Keep it up!!!

__________________

Stephan Roberts
"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia!"

Here is a FREE property analyzer I've found:

https://tvallc.infusionsoft.com/go/RehabLite/sroberts/

It's a great tool to use to help analyze your deals (and did I mention it's FREE)! But, you really should spend the $97 and get the full premium edition! IT'S AWESOME!!


Super

But naturally an official coach on here is going to do well any way with the experience they already have as well but that is just the way things go too.

ba

"The mental features discoursed of as the analytical, are, in themselves, but little susceptible of analysis. We appreciate them only in their effects. We know of them, among other things, that they are always to their possessor, when inordinately possessed, a source of the liveliest enjoyment. As the strong man exults in his physical ability, delighting in such exercises as call his muscles into action, so glories the analyst in that moral activity which disentangles. He derives pleasure from even the most trivial occupations bringing his talents into play. He is fond of enigmas, of conundrums, of hieroglyphics; exhibiting in his solutions of each a degree of acumen which appears to the ordinary apprehension preternatural. His results, brought about by the very soul and essence of method, have, in truth, the whole air of intuition."


Way to go Mike. I've

Way to go Mike. I've recently debated on getting into mobile homes.

__________________

Lenee

www.allstarhouses.com

~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~


good job Mike!!

good job Mike!!

__________________

Jonny Carlson
612.963.3445
"Looking to invest in properties in the Twin Cities"
#FLIP-Faith.Love.Integrity.Positivity.


Nice

Nice Job Mike. Roll it again in another couple years.!!!...Jan


Wow interesting

Congratulations and thank you for sharing that! I heard about people being able to sell the property again, but this is the first time I have heard about an actual deal where someone did this.

__________________

www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.


Just one operational problem,

you didn't get enough money down to repay your friend. Sure, the balance can be paid in a short time period but to keep friends as friends it is important to structure the deal a little more agressively. Other than that, it is a great deal. Congrats.

__________________

Always Looking to Acquire Houses | Always Looking to Amaze Investors


Great job, Mike!

When I first heard Dawn"Mobile Home" Ehrling speak on mobile homes at the Edge 2011, the Diva in me said, "No way!" HA! Two years later, I am planning my move to SC which tops the national list of highest percentage of mobile homes as main residences (18%).

Needless to say, I have slapped my diva and am immersed in learning exactly what you have just described.

Love hearing of your success! Keep us posted on any future deals!

Best of luck to you!

Karen

__________________

"You're never too old to be what you were meant to be!"

www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...

"Shining Like a Star & Dancing on Sunshine"

"Shoot for the moon! Even if you fall short, you'll still land among the stars!"


Wow

Not many investors will tackle the mobile homes! Why? They may never appreciate in value, unless they're on land, and only bc of the land itself. I woulda got maybe $2500 down, at least, if possible. But, way to go!


Dallas

You aren't making money because they appreciate. Rarely will a bank finance a mobile home. They are a lower rent than owning a home and even a lot of apts.

You make your money on the financing. You usually finance for 3-10 yrs and the avg finance rate you charge is 12-18%.

Cash cows! Can you say "Cha-Ching!"?

Karen

__________________

"You're never too old to be what you were meant to be!"

www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...

"Shining Like a Star & Dancing on Sunshine"

"Shoot for the moon! Even if you fall short, you'll still land among the stars!"


Bill

The way I read it, this is the second go round on the house, he already paid his friend back with the first guy who had to leave, which is why he sold it again. Maybe I didn't read it right......

__________________

Cathy B

Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...


Good job

With finding another buyer and selling this mobile over again. I would't complain if I had to sell it twice. More $$ Smiling Good luck

__________________

To get something you've NEVER HAD
DO something you've NEVER DONE.


Congratulations!

On all your success!

__________________

I AM THAT I AM

Follow My Awesome Journey Here:
http://www.deangraziosi.com/real-estate-forums/investing-journals/130178...


Mike

You're a mobile home hustler. A free unit? Very cool. $3k to fix a a free property is pretty amazing. Not much to rehabbing a mobile home? Congrats. Talk to you later.

__________________

See how I was able to make money in real estate without any of my own money all while I was over 3,500 miles away!
http://www.deansmedia.com/play.php?vid=252

We buy houses any condition or circumstance:
http://www.HomeRemedyKC.com/


Hi Mrs. Karen I am currenly

Hi Mrs. Karen I am currenly in the Bluffton/Hilton Head area and on this journey of investing, maybe you can share some insight on how to help me get started.


WAY TO GO

That was a smart chess move very tasteful keep going MIKE AWESOME DEAL!!!!!!!


ba3000

I wanted to comment on your comment. Even though i'm a coach for dean that doesn't make me any different than you. These possibilities are for anyone out there. I'm just a regular guy that has a family trying to create a future for my kids that I want to be able to pass down to them.

this deal, no money out of my pocket didn't fall into my lap either, it takes work to set up things like this. I have done a number of these kinds of deals here locally because of the relationships and help i'm providing to community owners.

If you want to get into mobile homes, it's all about the motivated community owners. They struggle as well, we can help them out. That is where I got this home, and he is giving me many more. I am now bringing in over $5500 in lot rent per month to him that he didn't have before. That is why he loves our relationship.

Helping people out is really the best part of this business. I hope this post has helped you in some way to create motivation and hopefully I will be reading your success story.

Thank you for following.

Mikessler

__________________

I always say Keep Moving Forward! Never Give Up On Your Dreams!

As Matt Larsen says "Feed the Need" - Edge 2013

Follow my daily investing journal and read about the deals I've done and am working on at:

http://www.deangraziosi.com/real-estate-forums/investing-journals/117493...


Trustpoint

Thank you for your suggestion. I would love to collect more down. This home is in a senior community and I have found that it is difficult to get more than $1000 for Deposit on an older single wide mobile home. I sold a home about 6 months ago, it was a double wide newer home, i was able to collect $5000 down on that one. That was an amazing deal if anyone would like to hear about that one. With over $30K in profit on that Home.

When I do a deal in a family community, they are much easier to get a larger down payment and much easier to sell.

__________________

I always say Keep Moving Forward! Never Give Up On Your Dreams!

As Matt Larsen says "Feed the Need" - Edge 2013

Follow my daily investing journal and read about the deals I've done and am working on at:

http://www.deangraziosi.com/real-estate-forums/investing-journals/117493...


OK Mike

Don't be a tease! Eye-wink

You KNOW we want to hear about the other deal!

PLease! Please! Please!

Karen

__________________

"You're never too old to be what you were meant to be!"

www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...

"Shining Like a Star & Dancing on Sunshine"

"Shoot for the moon! Even if you fall short, you'll still land among the stars!"


keep the positive thoughts coming.

Great deal Mike.
Keep reporting succesfull deals.
It is encouraging to all of us.

__________________

Coast To Coast Property Investments


Tat's Telling Them Mike!

You Keep Taking Care Of Your Family and Pocketing Those GOLDEN NUGGETS! Yea Baby! Even Coaches do it with STYLE!

Congrats Coach:o)

Romaluv22

Signing Out,

__________________

Hello, and thanks for having me. I have finally made up my mind to take control of my own destiny, with a little nudge, I think I will do well, again, thanks for having me aboard.

Romaluv22


I appreciate your optimism

This is the best part about Deans family. Everyone builds up each other and helps keep us on the winning track. Sometimes I lose sight of where i'm going and coming back to here helps me keep focused.

On future deals. I just finishing up a rehab on another Mobile home. I'm also closing on a single family home with no money down.

I'm seller financing that one.

Things are looking up

Thank you for your help and interest

Mikessler

__________________

I always say Keep Moving Forward! Never Give Up On Your Dreams!

As Matt Larsen says "Feed the Need" - Edge 2013

Follow my daily investing journal and read about the deals I've done and am working on at:

http://www.deangraziosi.com/real-estate-forums/investing-journals/117493...


Hi

Thanks.


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