I buy Single Family Residences in Utah. I have noticed that the inventory has decreased quite considerably within the last 9 months. Therefore, the typical wholesale property is becoming harder to Get an offer accepted, because there is more competition in the market place from retail buyers and landlords. I travel all over the country, so I am in a lot of different real estate markets. I am seeing the same type of thing poking up in many of the real estate markets throughout the United States & Canada.So, if you are new to real estate investing, you might find it difficult to get your whosale offers accepted. In some cases, you might be entering wholesaling as a way to put capital in your pocket and get your real estate investing business up and running. The big question is….can you still make money wholesaling real estate? The answer is yes, but it is going to take longer to get wholesale offers accepted and evenlongest to make money with these challenges in place until you really dial in on your market and find your niche.
I have a solution to this problem. The solution will get you earning money in almost any real estate market quickly. The solution is a niche that I have actually been laughed at for doing. In fact, any time I have stood up in a real estate investment club meeting and said what I do, I have received some interesting feedback and a sigh or two. You know what, I am glad they feel that way, because it keeps my competition low and my cash flow high.
So, guess what my niche is? I buy, fix, and sell mobile homes and manufactured homes in mobile home parks. I even wholesale mobile homes with or without financing too. Did you know you could even do that? Okay, we’ll you may have thought it was possible, but did you know how much you could make per mobile home deal versus what you make with your typical wholesale deal? Let’s just say it can add up to a lot of money, if it is done correctly. It could also become a long term cash flow producing investment too with no real carrying coSts either. If done correctly, you could even get all of your money back within 12 months or less and still make 12-18% return on your initial investment.
Let’s do a quick comparison onconservative numbers. On average, we net about $3000 on a wholesale real estate deal and if we have a money partner on our rehab & sell properties it might end up around $6000 in the current real estate market. Okay, so that is for your typical single family residence deal. Now here is an example of what I made on a quick flip deal, I bought the mobile home for $5,500 using a business line of credit. In a week, I sold it for $14,500, which is a profit of $8950 with my finance charge of $50 being pulled too. Not too bad for a weeks worth of work. It was noteven a manufacturedhomer, it was in the mobile home era and it was a single wide with 3 bedrooms and 1. 3/4 baths in a nice family park. We just cleaned it up and sold it, so there were not any repair costs either. We did not hold it long enough to pay lot rent and we kept the priorowners security deposit in place. It is just one example of the money you can make in the mobile home investing world.
I have one additional point to make here too. I was talking the other day with my single family residence investing business parrtner, who said we are slow now because we are having a hard time finding propertieS that meet our investment criteria. I laughed and said well maybe we should do more mobile homes now. She looked puzzled and said what do you mean. I stated I put an ad out earlier this week that we buy mobile homes and I have received 10solid phone calls where people just need out of their mobile home. Oh and by the way they are looking to buy single family residence like what we buy, fix, and sell, so we betterstart getting more inventory, can we cthe double dip on theseleads I have right now. Now, I hope this has helped you to see the amazing opportunity intone current real estate market to have a low cost investment and make the same return if not more buying & selling mobile homes.
If you would like to learn more about investing in mobile homes please register for our Mobile Home Investing Series on Jan 24, 2013 7:00 PM MST at:
Tin Can Profits! (Yes, that’s what we call it.)
In this webinar, you will learn how easy it is to invest in the Mobile Home Real Estate Industry! While the rest of the investing world jumps on the latest Real Estate investing craze, avoid the competition and market mayhem by investing in Mobile Homes. Investing expert Dawn Erling will show you how easy it is to make money in this lucrative market. She will give you her inside ideas and tricks that have helped make her the mobile home investing expert she is today.
Be-aware that this niche isn’t for everyone… so if you are looking for lower investing price points, faster turn-a-round investments, and how to make quick cash then join our free webinar! WholesaleDealmatcher.com is proud to sponsor of this webinar After registering, you will receive a confirmation email containing information about joining the webinar.