Real estate investing advice: How one man bought 51 units with $3,500 saved - Business Insider
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Tristan Thomas
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Summary
Thomas defines a mobile home as a single-family dwelling that's not permanently attached to the ground."I only needed a few thousand dollars, which luckily, that's all I had," he said. I just wanted to get into the space."Thomas said the home's pipes had burst during the previous winter, the ceilings needed to be redone, and mold was starting to creep in.Still, despite its shortcomings, Thomas sold the home for a "heavy profit" after sinking another $3,500 into the property for repairs. And when all is said and done, he invests about $10,000 total.A three-bedroom home in Thomas' market goes for about $950 on average — $600 for rent (which goes straight to Thomas), plus $350 to rent the lot where the home sits.
As said here by Christopher Competiello