Mobile Home Park Wholesale Deal
Investment Info:
Other wholesale investment in Painter.
Purchase price: $200,000
Sale price: $210,000
4 acre mobile home park with 8 POH, and space for another 10.
What made you interested in investing in this type of deal?
Potential growth opportunity.
How did you find this deal and how did you negotiate it?
Facebook ads. Negotiation was challenging because the seller didn’t keep records at all.
How did you finance this deal?
Wholesaled it.
How did you add value to the deal?
Sold it based on the value add opportunity.
What was the outcome?
Wholesale complete.
Lessons learned? Challenges?
Buyer had a challenge finding the initial funding so he could purchase it and establish cash flow records for refinance. I did learn that there are grant programs for developing affordable housing opportunities that even apply to the mobile home realm.
- Kristopher Kyzar