Join Pace Morby, asset manager, Beau, and property manager, Jimmy, as they dive into transforming their Yuma mobile home park they bought on seller finance with no bank, no credit checks, and no credentials. They discuss the units that need replacing, breaking down the costs involved in the transformation, and comparing the $17,000 needed to renovate each unit to the $8,300 cost of getting an Amazon-delivered tiny home up and running.
They dive deep into the logistics, covering everything from land preparation, hauling off old units, setting up foundations, and managing plumbing and electrical work. You'll learn about the differences in rental income, with renovated trailers renting out for $500-$600 per month compared to the $800-$900 per month potential for a 2 bed/1 bath tiny home.
Moreover, they discuss the long-term benefits of choosing tiny homes over trailers, including lower maintenance costs and fewer issues with plumbing, A/C, and appliances. Enhancing the property this way isn’t just about aesthetics; it’s about maximizing rental income, reducing maintenance costs, and significantly boosting the property's value. This is how you elevate your real estate game using creative financing strategies!
Stay tuned for the next part of the journey. Pace, Beau, and Jimmy will hop on a Zoom call to break down the true costs of this transformation. Following that, they’ll take you through the entire process of shipping out a tiny home, installing it, and figuring out the optimal rent rate. You don't want to miss this!
Hit the LIKE button if you found value in this video and SUBSCRIBE for more creative finance real estate investing tips. Let’s take action and do deals together!
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🚧🚧🚧 DISCLAIMER 🚧🚧🚧
Pace is not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a KZfaq video for entertainment purposes ONLY.