The Niche that keeps on GIVING
I know, I know. I put the most disgusting picture up but it is to prove a point.
Even in the crappiest of places you can make money and money doesn't care what kind of real estate you do.
18 Months ago I purchased a mobile home park on a seller financing note with 15k down.
When I bought the park I inherited a nasty abandoned trailer. I went to the DMV and got the title for $9.
I then put it for sale for $4000, I got a buyer for $3,000 cash. They then paid the lot rent of $300 for about three months and then stopped paying.
They did a lot of the clean-up since it is a hoarder's house and then decided they were moving somewhere else and I traded them the lot rent they owed me for the trailer again.
I put it up for sale again and have multiple buyers who are interested. I find it a little comical because by the end of the week, the total gain on it will be almost $8,000 on a property I bought with 15k down, and that is not even taking into account the other 9 spaces paying rent.
The moral of the story, if you want to break into the investment game sometimes you have to get your hands in the mud and make the most out of every opportunity.
