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Hi all! I’m a lurker in the forums and recently joined cashflow depot to enjoy the tremendous amount of imaginative real estate content available here.
Jackie: this is a huge resource you got here. Thank you for doing this. I am working my way through all the calls you recorded with Peter Fortunato.
I just completed a deal turning a $87,000 property into a $500,000 property with a $1 house that I moved onto the property and rehabbed. I did that deal all cash and cash out refi’d into a traditional mortgage afterwards.
I am looking for another deal now, and I have several mobile homes being offered to me for little or nothing. As I understand it mobile homes are much harder to get a traditional refinance on.
My dilemma is how to get my equity back out and working for me again.
How would y’all do it?
Located on the Pacific Northwest.
One of the homes I am looking at is a ‘75. I pulled the electrical panel cover to discover only copper wiring, which I think was an update.
I don’t know what I would be getting into with asbestos.
I think probably of the Mobiles I am looking at would be non conforming for a traditional mortgage.
I am wondering what other ideas people have about how to get cash back out of a mobile property that does not have the benefit of Fanny Mae or Freddy Mac.
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