Make money buying old Manufactured homes and Installing new ones
Investment Info:
Other buy & hold investment.
Purchase price: $100,000
Cash invested: $100,000
This is our personal vacation home. When/if we rent it it's $300/nt
What made you interested in investing in this type of deal?
I've been in the Manufactured Home industry as a contractor and dealer for 35 years and specialize in buying old MH's reconditiong them or removing them and installing a new manufactured homes and either flipping or renting them. This has always been an extremely lucrative business for me and I have never lost money on a manufactured home investment.
How did you find this deal and how did you negotiate it?
It's my full-time profession.
How did you finance this deal?
We are and have always been strictly cash buyers.
How did you add value to the deal?
Rennovation, remodel, addition, 2nd story
What was the outcome?
Bought two old trailers to get the spaces, removed them and installed a single wide 1 bdrm 1 bth Silvercrest Manufactured Home and built a 2nd story 2 bdrm 1 bth attached cabana on top
Lessons learned? Challenges?
Always have a plan and always get along with the park owner, permit counter and inspectors.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a real estate broker, developer, property manager and investor. We provide a turnkey solution from beginning. We find properties that already have ADU's on them or are viable for building a custom ground up design/build and/or installing a manufactured, modular or KIT (Panelized) ADU on.
