So what gave me the bright idea that this would be a good investment.  A few months ago my brother decided to sell his doublewide.  He had owned it for probably 4 years and for the last couple years it just sat there rotting away.  Finally he decided to just let the thing go before it rotted to the ground and at least get some of his money back.  This thing finally sold after a few months on the market.  All we did was put a sign out front and a random person would call every once in a while and it eventually sold.  Some guy with cash bought it and moved it onto his property.

So here I am without a rehab to work on and I am scouring through MLS trying to find my next deal.  I am scanning through property after property when all the sudden I come across a doublewide on about 2 acres.  The price looks very attractive and what I like best about it is I can easily pay cash for it and not be too concerned about tieing my money up.  I believe it was around 20k.  I start thinking all about this trailer and what my exit strategy would be if I purchased it.  I quickly come to the conclusion that I am going to buy a trailer, make the repairs and be into one for around 25k or so.  I am then going to sell this via owner financing for 50-60k.  I will hope for around a 5k down payment and finance the rest for 10 years at 10%.  I won’t break down the math for you but I will say it looks amazing on paper.

The next day I get up and I am ready to head out to this trailer to take a look at it.  The one down side to trailer investing is they all seem to be around 1 hour away from my house.  I don’t mind driving to get a good deal but I can tell this is going to be rather annoying if I am hunting these things down frequently.  I pull up the trailer on MLS and bam it is under contract.  WTF.  This sucks.  So there goes that idea right back to the back burner.

I really believe in this method and I like that I don’t have to tie up too much of my money.  I want to do a trailer deal.  I want to do one even at the expense of not making an amazing deal.  See with something like this no matter how much you research online you really get your education when you make a deal happen.  Everything you have learned up to this point pales in comparison to actually doing a deal.  So I head back to the MLS and start scanning away again at properties.  Ahh here we go here is 2 properties way the heck outta town.  Looks like I have another round trip ahead of me chasing some pie in the sky.  I get out to the first property.  This thing is in the middle of nowhere timbuktoo.  Most cars would have a hard time even making it down the road.  Pot holes all over the place I am wondering if my truck is even gonna make it.  Nothing like rolling down the street in an escalade on 22’s wondering if the next pothole is gonna blow a tire.  YeeeeHAW!.  So I pull up to this place.  I don’t even need to go inside as I know what to expect by the looks of the outside.  This place just needs to be torn down.  I have seen it all when it comes to single family houses.  I have done rehabs that your average person would freak out at.  I have made haunted houses into the best on the block.  This trailer takes the cake though.  I think you would be throwing good money after bad if you did anything other than just tear this P.O.S down.

I head out from this one and realize I am just out in the boondocks.  I am driving down country roads wondering if I am gonna be taken hostage by some country folk never to be seen again.  What if my car breaks down?  This is scary out here with these shanties for houses.  This next trailer is only 12 miles from this one but on these roads you might as well realize it is gonna take 45 minutes to make that trek.  UGH this was a mistake.  Stupid trailer business what am I thinking how do I want to buy one of these.  I finally get out to this trailer and it looks good.  I mean for a trailer it looks great.  Only needs a few minor repairs and this thing is ready to go.  I balk at the price though and figure it is just too far outside of town.  I don’t make an offer.

A couple weeks later I am looking through MLS and I come across another trailer.  Once again this thing is an hour away but it is near a lake that I have had my eye on for a while.  I desperately want a lake property and this is an excuss to go check out this lake.  I have never been to this lake and even though it is under developed currently I think it could be nice.  I head out there and just as I am getting there it is getting dark.  I have to decide do I go look at the lake or find the property.  I know the property doesn’t have utilities on so I must make a decision.  It turns out looking at the property wins.  I don’t get to see the lake.  This trailer I am looking for nowhere to be seen.  Out in the country google maps is not that precise.  It thinks this road is the next road over.  As it turns out the trailer is hidden behind another trailer and I miss it a couple times.  Finally after spending another hour driving in circles I finally find the place.  It is pitch black outside now.  Luckily I have brought a flashlight and take a jaunt around the property.  It is newer and appears to be in good condition.  Other than the annoying dog next door I want this trailer.  I think it would be an excellent initial investment into the world of doublewides.  It blows my brothers trailer away and I am gonna bid just under 13k for it.  Seems like an amazing deal to me.  I put my offer in and it turns out they won’t accept it.  They want 15k or no deal. I am just too scared of making a mistake so I back out.

Looking back I wish I would have went ahead and gone up to 15k.  The property only needed another 5k in work so I would have only had an outlay of 20k.  I feel like I could have sold it for 50k.  It doesn’t take a genious to look at that math and realize it was a great deal.  Just the learning experience…I want that learning experience.

I am pretty confident I will purchase a trailer within the next 3 months.  I just want to see how that business plays out and see what it is all about.  I don’t mind tieing up 20-25k to learn about it.