Newbie Thinking of Buying Off Market Buy and Hold Opportunity
Investment Info:
Mobile home buy & hold investment in Brandon.
Purchase price: $80,000
1832 sq ft mobile home in mobile home park with 6 tenants, one tenant is the property manager. Safe harbor home for people down on their luck. Property Manager is a Pastor and seems very strict about who he lives with. He has a very strict criteria for new tenants since a credit check is usually negative. He also requires weekly rent payments for new tenants. When it is full it is cash flow positive. I would also be helping people which is a huge positive.
What made you interested in investing in this type of deal?
This deal in particular was brought to me by a very motivated seller who needs cash, he also has another property that I am trying to bundle with this one. The other property is way more inviting however he wants to sell both together.
How did you find this deal and how did you negotiate it?
I am still analyzing the deal to see if I even want to negotiate.