Okay so let me tell y’all how God was with me through every step of this deal..
Wholesaling a mobile home: A thread.
We had a 4 bedroom 2 bathroom double wide newly renovated home under contract with a seller who was very motivated..
He was in the process of purchasing a home and needed the down payment money.
Feb 16, 2020 • 9 tweets • 2 min read
“Hey Jasmine, how do I get started with investing in mobile homes?”
Well I’m glad you asked!
How to start investing in mobile homes, a thread.
#30daysofthreads
The very first thing you want to do before diving into mobile home investing is MARKET RESEARCH.
Find out what is the going rate for distressed, rehabbed, and new mobile homes based on size and number of bedrooms/bathrooms.
Feb 15, 2020 • 4 tweets • 1 min read
Let’s do some simple math.. I have 10 mobile homes that rent at $900 per month, spent $5k on each.
$5k x 10 = $50k
$900 x 10 = $9k
Lot rent where my mobile homes are located is $400 per month.
$400 x 10 = $4k
So in one year let’s see what I’ve made back in my investment..
$9k x 12 = $108k minus expenses (lot rent)
$108k - $48k = $60k
So the first year I made my initial investment of $50k back plus $10k. Year 2 I will have made another $60k so now I have $120k.
We had a 4 bedroom 2 bathroom double wide newly renovated home under contract with a seller who was very motivated..