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.
What made you interested in investing in this type of deal?
I knew the market and the asking price left enough of a profit margin to take on the project.
How did you find this deal and how did you negotiate it?
A wholesaler brought the deal and I negotiated directly with them.
How did you finance this deal?
All cash — money I’ve been saving up from my previous flips plus what I make from real estate sales.
How did you add value to the deal?
Complete remodel plus new mechanicals. It wasn’t something that was visible but I wanted the new home owners to enjoy a new HVAC + AC even if it cost me a few thousand extra that wouldn’t necessarily give me a better return.
What was the outcome?
$173,000 profit from the deal.
Lessons learned? Challenges?
Be flexible and open to the possibilities. I said I wouldn’t invest in Oregon and I would only do multifamily deals — but the numbers made sense and you have to leave emotions out of it.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Real estate agent:
Allison Stanisel
Principal Broker
Contractor:
Pacific Coast Construction
