Updated about 9 years ago on . Most recent reply
manufactured/trailer homes
Just starting out and would like to hear thought about flipping trailers, I realize profits wouldn't be that much but I was thinking it would be a lower investment to help get my feet wet. just looking for advice
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I flipped two trailers last year.
However Florida is going to be tougher I think because they're EVERYWHERE and there are already lots of people doing it there. Still totally possible though.
My first trailer I got a response to an ad I had posted on CL, the mother died, family had it listed with a realtor and it hadn't sold. It was really nice and included a recently remodeled kitchen. I told him to call me when they were at the end of their options and I'd make an offer. It was listed at $26,500 I paid $6,000 for it. What killed us with this one was the lot rent bumped holding costs and made it harder to sell. It was a VERY upscale community and lot rent was just under $900 a month. After 2 months we sold it for $14,500 a total profit of about $4,000. Nothing crazy...but this was my first go round.
Second one I responded to a CL ad. Similar situation mom passed, but this one was in much worse shape. I literally paid $50 for it. I hired a contractor to replace some walls/flooring/fix some plumbing and he fudged up literally everything he touched and caused an electrical issue I had to pay to have fixed. So $2k of expense for literally nothing- all work I had to re-do.
So in the 90 degree middle of July I spent every second not at my 9-5 in a metal box learning to put down flooring and put up dry wall and frame windows.
This trailer was in a lovely privately owned park that felt like a campground- and we sold it the day after we bought it. Someone saw it pre-reno. Wanted to live there so badly. Was so glad we were fixing it up. Make us a full price offer before even a spec of work was completed. So we also had a timeline of 1 month to finish all the work too.
That was we paid $50. 1 months rent at $450 and about $3,500 total materials + 2k out the door on a scummy contractor.
Sold this one for $12,000 so about $8k profits here.
Profits haven't been earth shattering but not a bad profit for a month's worth of work.
