Updated about 3 years ago on . Most recent reply
San Antonio Mobile Home Flip
Investment Info:
Mobile home fix & flip investment.
Purchase price: $81,500
Cash invested: $45,000
Sale price: $255,000
https://www.compass.com/listing/615-county-road-3820-san-antonio-tx-78253/1029839869170061481/
What made you interested in investing in this type of deal?
It came to us through our marketing, I really enjoy flipping mobile homes and have bought probably 20-30 over the last few years.
How did you find this deal and how did you negotiate it?
It came from a TV ad
How did you finance this deal?
We used a private lender
How did you add value to the deal?
We completely remodeled the house.
What was the outcome?
We ended up netting around 110k on it
Lessons learned? Challenges?
This was one of the more challenging projects we've had, mainly due to the neighbor across the street doing anything in her power to keep us from selling it. We were about to file a law suit and get a restraining order but the house we under contract so we just managed the situation and made sure she didn't talk to anyone.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Tanya Lechner lists most of our projects and she's a rockstar.