Mobile home buy & hold investment.
Purchase price: $20,000
Cash invested: $20,000
House size: 1,468 sq ft Stories: 1 Lot size: 8398 Garage: Carport Property type: Single family
What made you interested in investing in this type of deal?
I became interested in investing in real estate is fascination from touring properties and imagining how to transform spaces, and build lives within them, how to increase property values through a few well chosen upgrades, tapping into the dream of having to earn a living doing what I naturally love to help others make smart real estate decisions. The more experience I can get under my belt, the more I'm likely to earn as a contractor/real estate agent, the ability to parlay my experiences.
How did you find this deal and how did you negotiate it?
I found this deal through friends, and I negotiate it through personal arrangements.
How did you finance this deal?
The deal was financed with cash.
How did you add value to the deal?
I added value to the deal by not needing to get pre approved, the house has been on the market for a while, the seller consider making an offer well below market price, and the owner asking price was perfect,
What was the outcome?
I accepted the owner's asking price, and closed the deal.
Lessons learned? Challenges?
Lessons learned was buying real estate can be very easy. My Challenges were to please the owner until the deal closed.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I did not work with any real estate professionals, agents, lenders, etc. that I'd recommend to others, if you have done all your homework, all the i's has been dotted, and all the t's has been crossed there is no need for any real estate professionals, agents, lenders, etc to close the deal.
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