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
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