All Forum Posts by: Jerry Lucker

Curious about flipping houses.

What would you say is the net profit percentage on your total investment for buying, rehabbing, and selling a flip?

What is the average turn around time to buy, rehab, and resell?

I know there’s a wide range but what is the average invested to buy and rehab your house flips?

@John Walsh

After learning a lot about the real estate business in general I decided it took a lot of time and money, the profit margins were thin, and the competition was fierce.

I stumbled across flipping mobile homes in parks. Took a little money, the profit margins were outstanding, and the competition was pretty much nonexistent.

I made enough money to buy mobile homes on private property as rentals every year for several years.

Fortunately the business is still the same 20 years later.

@Jermaine Chad Ingram

I’ve always been able to get good financing for mobile homes in parks. Another myth debunked.

@Rebecca E.

Most of my rentals are MH on private property. They are Not depreciating. After renting them for several years I’m selling some on contract. I’m making good money being the ‘bank’. My calculator says they have been and continue to be an excellent investment.

Many investors look down their noses at MH. They just don’t know any better.

@Mike M.

Thank you Mike. Makes sense

I specialized and did very well in a housing niche for many years. Renatus recently contacted me about being an instructor (‘practitioner’) for them.

I hadn’t heard of them before and wondered if anyone had an opinion to share about the organization?

@Joe

Try Foremost, a Farmer’s Ins. Group company.

@Adam Garrett

Talk to the attorney handling the trust. They should be able to sell without an auction.

@Christian Walker

Check out Dan Lok on Youtube. Amazing sales skills.

@Justin Rivers

Without details it’s hard to say but offhand I’d probably vote to keep it long term - first as a rental then sell on contract.

A lot would depend on what you could do with the $100K if you flip.