Rare investment renting for $1900/m
Investment Info:
Single-family residence hard money loan investment.
Purchase price: $100,000
Cash invested: $25,000
Double wide trailer on 1 acre of land.
How did you finance this deal?
Hard money.
How did you add value to the deal?
Appraisal. $186k
What was the outcome?
Sadly, only 55% LTV but still $90k
Lessons learned? Challenges?
Lesson learned is definitely do not invest in mobile homes in till I find how to sell the cash flow or a better way to pull the equity out.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Just my hard money, lender, and title company. Life Changing Lending!