MH4 (mobile home unit 4). This was my $500 investment practice property that I purchased back in 2012. It’s a 1969 mobile home in desperate condition. I was told by the mobile home park manager that this unit was destined for the landfill. I wanted to try out fixing and flipping property with as little financial risk as possible and I saw this as the perfect opportunity!
The complete renovation project took about nine months. I did most all the work myself. I did hire a plumber to show me how to replace the entire plumbing system, replace the furnace, and update gas lines. I also hired an electrician to upgrade the electric panel box and received advice on improving a system that was wired with outdated aluminum wiring.
I rebuilt roof trusses, replaced a leaking roof, replaced subfloor in the bathroom, completed an entire renovation of the bathroom and kitchen with my custom built cabinetry and built-ins. I found and installed recycled hardwood flooring and installed tile in the bathroom. Final touches included fresh paint inside and out, new windows, and working appliances.
So, I spent $12,ooo to improve the property, the results were exciting to see! After all was said and done, I was profitable from the project but not enough to justify 9 months of work.
I think this project was a huge success! What are your thoughts?