When you begin your journey flipping mobile homes, there are some things you need to know, and other things you will want to avoid. We’ve put together some tips on how to sell a fix-and-flip mobile home fast in Lafayette.
Flipping a mobile home in Lafayette can be a great way to turn a profit, but it is never as easy as it appears on HGTV. We hope our tips and tricks will help you sell a fix-and-flip mobile home fast in Lafayette!
First, You Must Understand Your Location and Market
A mobile home’s value is influenced more by its location than anything else—roughly 60% of what a property is worth comes down to where it sits on the map. Prices can shift dramatically from one neighborhood to the next.
A mobile home that’s a great bargain in one area might sell for far less just a few miles away. Be sure to research thoroughly and understand the price trends specific to your neighborhood.
It’s also important to consider local demographics. Who is buying in the area—families, retirees, or someone else? What are they looking for, and what price range can they realistically afford?
Don’t Over-Improve The Home
When renovating a home you intend to flip, remember that less is often more. There’s no guarantee you’ll recover the full cost of the improvements you make. Focus on replacing items that are broken or noticeably outdated—and keep it simple.
Avoid overspending on elaborate upgrades or unnecessary details. For example, if the bathroom cabinets are old and unattractive, swap them out for a clean, cost-effective pedestal sink.
Most importantly, understand that no matter how many improvements you add, a home won’t sell for $500k if comparable homes in the neighborhood are priced around $150k.
If you are considering DIY, we recommend checking out this helpful Book for guidance, as well as our picks for the Best Mobile Home Parts and Supplies and the Best Tools for Mobile Home Repairs.
Price Your Home Before Anything Else
Before you sign the papers to buy the mobile home, have the number in your head of what you will sell it for. Be careful not to overinflate this number. You should be pricing low in order to get a buyer and sell the home fast.
Be realistic and stick to your numbers. Do not think that by making a $40k renovation to the basement, you will be able to add $40k to your asking price.
Review all your numbers before getting started, and keep in mind, repairs typically require more money than what you initially plan for, so give yourself some cushion.
Only Drop Once
When you initially price your home, give yourself enough room to drop the price once. Plan to make a significant drop of $5-$10k if the mobile home isn’t receiving much attention at your original asking price.
You will only want to drop the price once. Dropping the price more often can make the mobile home appear as if something is wrong with it, or that you are desperate to sell.
Before starting any real estate investment project, it is important to educate yourself and work with professionals you can trust.
To learn more about selling a fix-and-flip home fast, fill out this form, or give our office a call today! 337-508-0795
- Are you worried about repossession?
- Does the mobile home need more repairs than you can make?
- Did you inherit a mobile home you don’t want?
- Are you tired of expensive lot fees?
- Are there bad tenants you can’t get rid of?
- Do you own a mobile home that is sitting vacant?
- Do you have liens on the mobile home?
- Do you need to sell your mobile home fast?
No matter why you need to sell your mobile or manufactured home in Lafayette, LA we can help you! Get a cash offer today.
Or if your mobile home needs to be moved. Get a free quote now.
Sell Your Mobile or Manufactured Home on Your Terms
Contact your Local and Trusted Mobile or Manufactured Home Buying Experts to Purchase Your Home Today. We buy mobile or manufactured homes in ANY Condition. There is no obligation or cost. What do you have to lose?
Where We Buy near Lake Charles, LA
Our Values…
Return phone calls and close on time.
INTEGRITY: We do what we say we will do. No surprises at closing!
SPEED AND CONVENIENCE: If you need to sell quickly and are willing to take a reduced price for speed and convenience…WE CAN HELP YOU! If you want the total retail value of your home and can wait to sell it…a better option is to get a realtor. Our specialty is speed and a hassle-free buying process!
We get things done! Our team is proactive, anticipating and solving problems.
Place a high premium on transparency and accountability.
RELATIONSHIPS: We value long-term and mutually beneficial relationships with mobile homeowners looking to sell, ancillary service providers, park owners, contractors, and REALTORS®.
COMMUNICATION: We speak respectfully, openly, honestly, and promptly.
PROFESSIONALISM: Our team is focused on our responsibilities to serve homeowners looking to sell professionally.