Mobile home park

[Victor Iguado]

Investment Info:

Mobile home buy & hold investment.

Purchase price: $70,000
Cash invested: $70,000

Raw land was purchased and divided into 1 acre lots for mobile home rentals.

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

Was always wanting to start something big from scratch and see if I can make it happen.

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

I found it by just looking around for 5 acres and ended up finding this deal for 10 acres and did this owner to owner and just giving 15,000 down and dropping price by 10,000.

How did you finance this deal?

We did owner to owner.

How did you add value to the deal?

By surveying properties and dividing them into acre lots. Included adding a fence.

What was the outcome?

It's going working on getting utilities installed.

Lessons learned? Challenges?

Lesson learn is don't let negativity get to you it's a big challenge and time consuming but getting thru with it is what matters.

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

Did work with an agent. But did do this owner to owner.