Six figure MOBILE HOME flip
Investment Info:
Mobile home fix & flip investment.
Purchase price: $200,000
Cash invested: $54,800
Sale price: $464,000
My first time flipping a mobile home! Purchased the property cash, off market, from a wholesaler (we love wholesalers!!)
Spent the winter months renovating & getting it ready for spring.
It finished just in time to hit the market during spring selling season. Originally wanted to list the home higher but I’ve been seeing home sit on the market and I couldn’t afford high DOM.
Priced it lower than I expected ($450,000) went pending at $464,000 after 3 days on market, one open house, $14,000 over asking.
Everything was redone! New HVAC, AC, kitchen, finishes, roof — but I knew this home would do well because it had a *huge* oversized shop. If you’re going to gamble on a unfamiliar asset class (in my case mobile home) have a USP!
After closing costs and selling fees, my net profit was just about $173,000.
