CHEAPEST HOME IN WINDSOR - FLIP OPPORTUNITY
Description : 20 Apr, 2023
CHEAPEST HOME IN WINDSOR!!! (Off Market Property) 20 Bonita St, Windsor, ON Wholesale Price $69,000 (OBO) *Realtors- Add your fee (whatever you like), over and above the asking price* ------------------------------------------------------------ Wholesale Price $69,000 (OBO) *Realtors- Add your fee (whatever you like), over and above the asking price* Wholesale Price = $69,000 30 Day Closing VACANT POSSESSION Click the Link below for 100% of the details:
------------------------------------------------------------ Located in Windsor, Ontario Bedrooms: 2 / Bathrooms: 1 Foundation: crawl space Parking: street parking available Style: mobile home — Additional Information: Located in South Windsor Walking distance to Home Depot, and many other amenities Awesome Flip Opportunity *** Multiple Exit Strategies: Fix n Sell, Fix n Rent, or Fix n Sell with seller financing ***
Please Note: Subject Property is a Mobile Home How Mobile Homes Work: -You own the mobile home, and you rent the land -Current land lease is $500/month and will go up by $50 for the new purchaser -Land lease includes rent for the land, property tax, snow removal and water usage. -Owner responsible for their own utilities: only gas and electricity.
WHY YOU NEED TO BUY THIS MOBILE HOME: * lower barrier to entry (less $ needed to purchase + pared to single family home) * High After Repair Value (ARV), mobile homes that are renovated in this park generally sell for $140,000 - $185,000+. Other nicely renovated mobile homes have been sold for over $200,000 in nearby parks. * Purchase for less than 50 cents on the Dollar! * High Liquidity Market (plenty of Buyers and Sellers). -Mobile Homes trade on the MLS and dozens of mobile homes change hands in the local Windsor-Essex market every year * Multiple Exit Strategies so you won’t leave your capital stuck…You can fix and sell for a quick profit, fix and rent for cashflow or fix and sell on seller financing to maximize cashflow and flip profits. ------------------------------------------------------------ Comparable Sales: 312 Pompano Sold for $185,000 on January 27th, 2023 in the same mobile home park! This property features 2 Bedrooms, 1 Bathroom. It was renovated at the time of sale but still had panneling on most of the walls and ceiling. 212 Baracuda - Sold for $125,000 on March 6th 2023 in the same mobile home park. This property features 2 Bedrooms, 1 Bathroom. This mobile home was in good, livable condition at the time of sale but not overly renovated. Roof looks original and the finishing were outdated. 25 Bonita St - Sold for $140,000 on October 25th 2022 on the same street! This property features only 1 Bedroom, 1 Bathroom and was semi-renovated. Long Term Lease, Market Rent: (Vacant Possession) Market Rent = $1200/month + Utilities
REPAIRS RECOMMENDED * Full interior & exterior renovation required! * Install new pitched roof * Exterior plywood to be replaced * Install vinyl siding * Demolish deck (wrap around), build stairs, new deck optional * Replace all windows and doors * living room has a slope, jack up floor underneath * Update/repair wiring and electrical panel * Fix/replace plumbing * Update gas fireplace * Replace hot water tank * Remove furnace, install ductless heat pump * New Kitchen and Bath * Currently has 1 bedroom, enough space to build a wall for 2nd bedroom * Drywall, mud, tape, paint * Install new floors, interior doors and trim * Any additional Interior finishings
EXIT STRATEGIES: *** Multiple Exit Strategies *** Fix & Sell, Fix & Rent, or Fix & Sell with seller financing!
Seller Financing Option: Buy this mobile home with only $40,000 Down and we will finance the rest! We will hold the remaining $29,000 as a mortgage. Make interest only payments of $362.50 per month until you finish renovations and sell.
Click the link below for more information including, pictures, videos, & comparable sales:
How To Make An Offer: If you are interested, send an email to maverickcapital1@ or contact Alan at 226-246-4617 Accepting offers until March 26th at 6:00 p.m.
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