What percentage of your buyers are using USDA 0% down loans to purchase your land/home packages?

Happy Wednesday! I'm a few days behind on my normal Monday updates. This week is wedding week for me so things a fun chaos right now getting everything organized! Last week I had 3 properties hit the market. Within 48 hours of listing, 2 of the 3 went under contract at asking price. We (allegedly) have a 3rd offer coming on the final home which would be incredible. It seems like the housing market is starting to tick back up, but I'm still being cautious with any new projects that I'm starting. My personal take is that we haven't really started to see the impacts of the war going on, so I'm predicting some more increases to gas and fuel and some more inflation, which means all of our home costs, trade and labor costs are going to see some increases as well. That doesn't mean I stop doing deals, it just means I'm more picky on what deals I say yes to, and I'm stress testing our deals more thoroughly. Remember that when there is fear in the market, there is also a TON of opportunity for those that are ready. Now is the best time to be educating and building relationships. The people that do the best during these times are the ones that have cash (or investors with cash) ready to go and can move quickly on good opportunities! Tomorrows Q&A will be at 10am! Bring your questions! Hope to see you there! One thing to note- I'll be postponing next weeks Q&A as I'll be on a honeymoon in Portugal!

Got a full price offer on my latest project in less than 48 hours! 20 Aggie Way, Franklinton, NC 27525 | Zillow This was a really fun one. I met an investor that was going to buy a MH from me and I was just going to be the dealer, but he asked if I'd be open to partnering. The agreement was I run the project and he'd pay for it. Total Cost- $216,453 Land- $42K + closing costs Home- $84K Clearing, Grading, Well and Septic, Footers and Install- $46,660 Brick Skirting- $7500 HVAC, plumbing, electrical, front porch & Back deck, driveway, labor, materials- $26,293 GC Fee- $10,000 Under Contract at $300,000 5% realtor commissions + closing costs Roughly a $67K profit I was lucky enough to have an investor that could do this one all cash, so no financing or holding costs which makes the numbers look better. We also hit a 2 month delay this past winter with all the snow and ice we got, so we actually were a little behind schedule. It goes to show that doing deals in the winter does get a little unpredictable. Us North Carolina folk don't know how to handle sub 30 degree weather or any snow and ice, so literally nothing got done for about 2 months. Had we had lender fees, that would've hurt, but that is the risk we take by doing deals in the middle of the winter, and is something that we need to plan for as investors. Overall, incredibly happy with how this deal turned out!

A reminder for anyone doing their first deals! One of the most common questions I get is what size lot do you need for a land home package. My best deals are all close to an acre or bigger. My worst deals were all under a half acre. The buyers for these homes want space. They want a shed, a workshop, room for their trucks. They don't want to be right on top of their neighbors. I took a risk on a 0.18-acre lot once near a lake. Thought putting a nicer home there would offset the lot size. That was the only deal I've ever taken a loss on. I put together the exact lot criteria checklist I run through before putting any land under contract. If you have questions on any of the criteria, bring them to Thursday's Q&A at 10am.

Does anyone have a wholesale pricing sheet or website you can view pricing in North Texas? Or does anyone have a wholesale license and want to sell me a mobile home in N.Texas?