Mobile Homes who wants to buy one of those?
Most people and investors always say to me " you invest in what???" I tell them proudly Mobile Homes.
The reason I can proudly say that is because I can make almost as much on a small MH deal as most people can on a fix and flip deal.
Plus I'm making between 300-600% ROI on my money.
Is that possible?
I wanted to start a new post that can show you how to make crazy money with mobile homes.
Here is how:
I buy homes for free-1500. These homes are older, although I just finished a deal that was a 1995 home double wide I bought for $1500.
I put about 3K in rehab into them. This is flooring, paint, new tub surround, and sometimes granite counters. Used toilets, appliances, light fixtures, etc.
I try not to have more than 4K into a home. I am able to sell them between 12K-30K in price. I sell them on a contract with the buyer. I collect 12-13% interest on the money. So my buyers are paying me monthly and i'm happy to collect money from them every month.
I have just done this over and over.
My best deal i just closed in May. I bought that double wide home in a community for $1500. It was in really bad shape, but I put it back together for about $3000. I sold it for 26K. I now have a note for 8 years and I will make an additional 12K in interest over that period of time. I should make about 32K in profit on a Mobile Home.
I'm not posting this to brag about these deals, although i'm proud of them, I just wanted to illustrate that money can be made with any type of property as long as you can be creative and find a need in your market.
Keep moving forward!
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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