OfflineI place these sales on here in hopes to bring motivation to others that profits can be made in any type of investing.
This home is a mobile home. I have flipped a number of them. My strategy with these is to generate enough cashflow that I can be very comfortable monthly.
This deal was great. I'm going to be able to double dip. The buyer of this home paid $14500 for the home. i have about $4500 in purchase and rehab into the home. I'm going to make and additional $6200 on the interest over the next 7 years. A total of $16000 in profits on this deal.
What i'm really excited for is it brings in another $250 per month in cashflow I can have for the next 7 years. I don't have to manage the property, I just have to make sure payments just keep coming in.
It is a great strategy. I have 2 more going right now. I want to have them both finished and sold by next month.
Just keep making offers, and Feed the Need as Matt larsen says.
I always say Keep Moving Forward! Never Give Up On Your Dreams!
As Matt Larsen says "Feed the Need" - Edge 2013
Follow my daily investing journal and read about the deals I've done and am working on at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/117493...
Let's stay in touch!
When are we going to Ohio?
I think I need to get back into that business.