The Abandoned Flip Home

[Meaghann Valencia]

Investment Info:

Mobile home fix & flip investment.

Purchase price: $32,000
Cash invested: $22,000
Sale price: $155,000

Vacant and abandoned manufactured home located in a 55+ community, inherited by 13 separate parties.

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

The sellers came to me not knowing what to do with their home. Upon entering I knew immediately it would have a hard time selling on the open market. There was vandalism throughout the property and sellers were not local so they had zero interest in investing any money to increase the homes value. This home needed to have it's "life" put back into it. You could tell the home was well loved at one point but that it had simply been forgotten about by this who inherited it.

How did you finance this deal?

Cash.

How did you add value to the deal?

MLS comparable and public record.

What was the outcome?

We gutted the property from top to bottom with all new plumbing, and electrical. It turned out beautiful. Waterproof flooring, apoxy countertops, new appliances and vanities. Even the landscaping. It looked like a home again.

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

Myself being the real estate agent - which is fabulous!