Tell us a story about one of the Greatest MH Investment deals you've ever closed

[John Fedro]

Hi all,

I hope this is the right spot to place this thread. I thought it may make for some good chit-chat and learning lessons.

One of my favorite stories about a mobile home in a park.

It may be because it was my first deal but looking back this was a great first deal to open my eyes to mobile homes as profit generating investments. I am also glad this was my first transaction inside a MH park because it set the bar at a level I continued to aim for throughout my journey.

After many failed attempts at marking I received a call from a seller. I was so new to REI I didn't know enough to ask what type of property it was. I just knew she was originally asking $12,000 and now was asking $7,000.

Interesting to note that the seller found my ad in her next door neighbor's trash. How she was looking in the her neighbor's trash I have no idea.

Once I pulled into the mobile home park my mouth dropped at the fact I was looking at mobile homes, albeit attractive mobile homes. After being surprised, depressed, offended, and eventually happy to be looking at the fsbo home and talking with the seller I was surprised at how easy it was to talk/listen with this seller. Over the next 2 hours of talking/listening I was able to purchase the home for just $300 per month for the next 10 months.

I could barely believe what happened! I was dancing and smiling the rest of the night.

This home made me a profit instantly and continues to do so 11 years later.

Hope this was a fun read.

Best,
John Fedro

[Jon Klaus]

I've have a number of pretty good land/home MH deals. No grand slams, but here's one with a couple RBIs. Bought a 3/2 on acreage at a HUD auction in 2009 for $25k. Rented it for $850-$875 until last year, when I sold it to a tenant for $72k.