New Listing Under Contract in 48 Hours · Land Home Package Investing

New Listing Under Contract in 48 Hours

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!

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