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Real Estate Single Wide on 2.5 Acres

Discussion in 'Real Estate Investing' started by AroundTheWorld, Nov 2, 2007.

  1. AroundTheWorld
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    AroundTheWorld Be in the Moment Speedway Pass

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    • Single Wide on 2.5 Acres
    • Property in a subdivision of 10 lots - each has a trailer or modular home
    • No restrictive covenants
    • No zoning
    • Property fronts busy Highway
    • Middle Income subdivisions going in in surrounding areas
    • Area of growth
    • Listed for 200,000 - worth 200,000 in it's current use
    • 5 miles from a mid size town and 2 miles from a small town

    Where is the opportunity here?
     
  2. reipro
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    reipro Contributor

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    The opportunity is to by all 10 lots and demo the trailer park and put something else there that has a higher and better use
     
  3. AroundTheWorld
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    AroundTheWorld Be in the Moment Speedway Pass

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    Oh, love this response REIpro. Thinking big!

    Of all the deals I posted so far in this section, this one was one of my favorite deals... (these are all deals we have either looked at or done)

    Finding a property that is not currently highest and best use and converting it to such is a great value play...... a great way to create money.

    In the case of this particular trailer house, we converted it to self storage - greatly increasing the value of the property.

    Fun stuff!
     
  4. kurtyordy
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    kurtyordy Bronze Contributor

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    put 10 mobiles each on 1/4 acre sell the mobiles and rent the land.
     

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