Question About First 10 Deals On Mobile Homes
i have recently done 10 deals and was wandering if anyone has seen roi returns over 500% it seems unreal but i am not sure i am doing the #'s right but i think i have even done a couple with over 1000%roi and even a 2000% roi is this even possible? I know without the real #'s would be hard to figure but i would like to know if anyone has seen roi like this if so any help would be helpful ,some #'s can be given to caculate if anyone knows the right calcs. thnaks in advance
Give us some numbers and we'll be able to see if the ROI is what you think they are...If they are what you said--GREAT! I don't doubt you at all. I'm currently working with an investor looking to buy some mobile home parks and when I crunched the #'s I was surprised by the ROI.
Q
I picked up a mobile home 2 weeks ago for $1200, will put about $800 into it. Another similar home in the same park in not nearly as nice a space as mine sold 3 months ago for $12,000.
ROI = 600%. Answer to question: Yes.
Way to go!
MarkR
jeez...my coffee had not kicked in:
ROI = (SP - Cost Basis)/Cost Basis
where:
SP = Sales Price
Cost Basis = Cost of purchase, repair, sales expenses, etc.
ergo, my ROI will be 500% (using the other unit as a comp at $12K)
Sorry for the early morning math misteak.
MarkR