They told me not to do it so I did it anyways! Mobile home flip!

[Brandi Croom]

Investment Info:

Mobile home fix & flip investment.

Purchase price: $25,000
Cash invested: $13,000
Sale price: $66,900

1977 mobile home in a 55 and older park. In great shape, just no updates besides windows and roof.

What made you interested in investing in this type of deal?

I could buy it in cash and fund the renovations with my own money in an area where the average house price is around $350K.

How did you find this deal and how did you negotiate it?

Facebook marketplace FSBO. It was listed way under value and other people were looking at it so I offered full price.

How did you finance this deal?

Paid cash.

How did you add value to the deal?

Gutted the kitchen and did all new everything! The rest of the home got all new paint, flooring, lighting, added a new furnace, switch out all outlets, remodeled the bathroom except left the shower and bath.

What was the outcome?

Sold for cash quickly to a buyer.

Lessons learned? Challenges?

My timeline was delayed due to COVID, I should have hired out the painting and flooring to speed things up.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I'm a Realtor and I'd love to help others in my area. Brandi Croom with Croom Realty LLC.