My first investment

[Nico Navas]

Investment Info:

Mobile home buy & hold investment.

Purchase price: $55,000
Cash invested: $55,000

i bought this property thru a wholesaler ( Pedro my guy). This home was occupied with a tenant already i haven’t t touched anything but maintain the yard. i have a property manager on it now but it not worth it because i am doing all the work. (but hey we live and learn)

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

i was able to get this Property under market value at 50% under

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

i found this deal thru a wholesaler and i was able to drop the price 15k

How did you finance this deal?

i was able to purchase this property all cash.

How did you add value to the deal?

i haven’t added any value to this home yet

What was the outcome?

i was to get cashflow immediately after closing. But is it cashflow ? my 55k is still seating in this property

Lessons learned? Challenges?

i am still learning. but i advice you this have paper trail and everything in writing.

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

n/a