Latest news with #flipping
Daily Mail
2 days ago
- Business
- Daily Mail
Inside the trailer park house-flipping phenomenon that is earning Americans big bucks
Up to 21 million Americans live in manufactured homes, also known as mobile homes and trailers, and savvy buyers are cashing in on demand for these tiny homes to make big bucks. Byron Sellers, 39, of Tampa, said he has seen an increase in mobile home owners since he started flipping homes in 2018. 'It is cheaper,' he told 'Lots of people are being pushed out (of the main housing market).' Victoria, of New York City, who asked to go by her first name, agreed. She rents her Upstate New York and New Jersey mobile homes for $1,350 a month. That price, for a three bedroom, one bathroom home, is steeply cheaper than even studio rentals in the metropolitan area. 'Everybody wants a mobile home,' she told 'You can even move it.' Both Byron and Victoria got started in the industry after they realized how expensive flipping residential homes was and how much more cost effective trailers are. Byron started flipping homes near the Chicago area after he lost his job in 2016. He and his wife bought their first two mobile homes in March 2018 for a joint price of $4,300 in a trailer park. Within 45 days, their ready-to-live-in trailer sold for $9,500. After putting in $3,000 of renovations into the second one, it sold for $10,000, Byron told Some trailers, they've gotten even cheaper than that. 'I've gotten some for free,' Byron revealed. Since starting their business, they've made a low six figures from flipping homes alone, Byron said. Another $400,000 from mobile home parks and their equity in them. And another $40,000 teaching others how to do what they do. The reason Bryon and his wife, Sharnice, migrated into the mobile home market was because the former had wanted to get into real estate for a long time, but multi-family homes were largely outside his budget. He first heard of mobile home flipping while driving for a rideshare company and listening to a podcast to pass the time. He shared it with Sharnice and the rest is history. Victoria agreed that sometimes landlords are just want something to move fast, so they'll hand it off for free. So far, the New York mogul has gotten two mobile homes for free. Victoria has made around $80,000 doing the same, and put roughly $30,000 into the renovations of her seven homes - three of which she still owns and rents out. Victoria says she sees a lot of Latinos snapping up hers and they're mainly upper lower and middle class families. Meanwhile Byron and Sharnice have found that many of their buyers are usually within the $20,000 to $40,000 salary range, typically between the ages of 30 and 69 and are white or Hispanic. 'You have a bigger buyer pool of cash buyers,' Byron told But not every mobile home is a steal. Since moving to Tampa, Byron has seen some trailers for the prices of starter homes. And some parks even have pools, pickleball courts, and convenience stores. Those areas, however, are typically geared toward those in retirement and typically go more than $100,000. Even without those perks, living in a mobile home can be a cost-effective strategy for those pinching pennies but looking for an affordable home solution. Trailers typically run for $50,000 to $100,000 cheaper than a traditional home, Byron said, and there are no Homeowner Association fees to pay. After purchasing the home, if buyers live in a park, they will have to pay to lease the land. On top of that, mobile homes are classified as property, like cars are, so insurance prices and property taxes are much lower than standard homes. However, unlike homes, they don't retain their value. But for those willing to invest time and money into renovating them, they can make plenty of money doing it. They 'don't depreciate' as much as people might warn you, Victoria told Byron recently acquired a trailer for around $85,000, after fixing the septic tank and putting in $40,000 of work into it, he and his wife sold it for $212,000. Another one, which was move-in-ready, he spent $200 for a cleaning crew and turned the property around and sold it for $7,000. He got the trailer for free as someone was being evicted, he said. On average he puts anywhere between $3,000 to $20,000 into the renovation and hopes to sell it for three times the price he put into it. Since moving to Tampa, as it is a harder market, the couple hopes to net at least 50 percent more than what they paid. 'After the hurricanes, it's harder,' Byron told 'The market has slowed down.' However, people are 'still buying' and he doesn't foresee the market ever becoming obsolete. 'It's a niche market,' he admitted. 'I just see the future of them. People are going to need affordable housing.' The most Victoria has ever spent on a renovation was $6,000, spending less than that on average. When she redoes a home, she focuses on the bathroom and kitchen, as she says those are the most eye-catching to potential buyers.
The Sun
29-05-2025
- Business
- The Sun
I've made £269 on Vinted in 24 hours – the 7 items that are flipping FAST & the retro product to always pick up
A RESELLING whizz who made £269 on Vinted in just 24 hours has shared seven of the items that are selling fast right now. The mum is a pro at finding bits to resell at the charity shop and car boot sales, and took to TikTok to share some of the items she's "flipped" in recent days. 6 6 The first thing she recommended looking out for is shorts - both men's and women's - as she's made a decent profit on the ones she's sold. She got a pair of Saltrock women's shorts for 50p, and made £5.45 selling them on, a pair of Animal women's board shorts she got on Vinted for £2 sold for a whopping £32.96, and a pair of Fat Face shorts she got for £2 sold for £9.95. She also picked up two other pairs of men's shorts, for both of which she paid £1.50 each and made £13.45 profit. Summer dresses are popular as the weather warms up, and a Saltrock one she got for 50p at the car boot nabbed her a profit of £9.45. While a Seasalt Cornwall £1 dress sold for £17.95. One of the biggest profit-makers for the mum were the vintage cameras she'd picked up, as she said they "sell very well on Vinted". A Miranda one she got for 50p sold for £9.95, a £2 vintage camera sold for £29.95, a Canon PowerShot she paid £1 for at the car boot sold for £34.95 and a vintage Mekai camera she paid 50p for sold for £14.95. Timeless T-shirts are as popular as ever, with a £1 Mason Newman one selling for £12.95 and a vintage Nike one she got in a reseller bundle from a wholesaler for £2.50 got her a profit of £27.45. Meanwhile, a £1 linen playsuit sold for £10.95, and a £1 denim Zara jumpsuit nabbed her a profit of £18.95. Lastly, the savvy reseller made £13.95 selling on a Craghoppers fleece, and made £4.15 profit per sale of debobbling machines - after paying £4 for 50 of them herself. I made £550 in 48 hours reselling clothes but NOT on Vinted - I found a platform where sellers get the full asking price - She concluded her video by showing that she'd spent £20.03, and emerged with a total profit of £269.85. "Wow I'm massively under pricing my stuff. I have hundreds to sell!" one person commented on the TikTok video. With the mum advising: "Use eBay to research sold prices to help you as a guide". "That's a bangin' profit!" another praised. What is retail arbitrage and how does it work? Retail arbitrage just means reselling a product on for profit. It is completely legal in the UK, as, once you own an item, you have the right to resell it. Using an app called BuyBotGo, resellers scan items they find in the supermarket, and the app tells them how much the products are selling for on Amazon, and how many times they have been sold in the past month. The reseller will make a profit on the items by reselling them using Amazon FBA. Amazon FBA is a service that online sellers can use, where Amazon takes care of the storing, packing and shipping of your products. So all the reseller has to do is send the products off to Amazon and wait for the money to roll in. 6
Telegraph
28-05-2025
- Business
- Telegraph
What I wish I'd known before starting out in property investment
Do you have a property dilemma or question for Samantha? Email money@ I blame Sarah Beeny, famed property TV show host, for my start in property. With her bouncy, blonde hair and tips for easy ways of making a buck overnight with some DIY, I figured it looked like a fun way to make money. Naïve and in my 20s with £15,000 to burn, I decided I would flip properties. Now that I'm older and wiser, I can tell you real life is really not like TV (Homes Under the Hammer, I'm looking at you). Here are the key lessons I wish I knew back then. There's no overnight Lamborghini in the drive When I first started out, I was sure that within just a short period I'd have flipped enough to get so rich I'd have a rainbow of Lambos on the full sweeping in-out drive. It's utter tosh – and I get mad when I hear the same twaddle being spouted now on social media. If you want to make it in property – or any business, for that matter – every penny and pound of profit you can spare should be reinvested to make your business better and stronger. That means even if you start with a little deal that makes a little profit, you soon start chasing the bigger and better places, which ultimately require more outlay and more risk. Before you know it, most of your money is tied up in illiquid assets and any chance you have of buying that Lambo means you either have to sell off a good investment or liquidate a profitable property. Of course, all of those things are possible, but the difficulty is when you don't get 'overnight riches' (like if you'd bought up a load of crypto at a lucky moment). You know how hard you worked to earn that money, so you don't tend to blow it so easily. One of the hardest lessons I struggle with is not regretting spending money on myself. I often think, 'But I could buy a new bathroom or get a room plastered for that!' I think the property investor's mindset takes a lifetime to learn, and then another lifetime to unlearn. High yields mean high hassle Years ago, a developer friend of mine told me, 'This business is feast or famine'. With regular bills to pay, I figured some high-yielding rentals in the West Midlands would be a good way to keep a steady cash flow. I was wrong. High yields only come from high hassle. As the saying goes, 'when you buy cheap, you buy twice', but in this case you don't get double the value, just more likely a tripling of the problems. When property is cheap, it's cheap for a reason. There will always be a mountain of things to do, and when you have tenants in situ, every job takes at least six times longer. Also, if things don't get done on time, you're dealing with the fallout. All of this multiplies when you're trying to focus on something else, and before you know it, that little side hustle becomes a full-time headache. If you really want to get a task done up to standard, you need to completely focus on it to the exclusion of all else. Cheap is not always cheerful When materials cost so much, it's easy to look for the cheap fix rather than the quality fix. I've been guilty of applying this logic before and always have to remind myself to factor in the labour costs as well – plus the inconvenience factor of having to make repairs again when the cheap ones inevitably don't last. As much as it pains me to spend more than I need to, I now force myself to apply a longer-term view – just in case a project doesn't sell and I end up owning it for longer than anticipated. This includes not installing white carpets (yes, done that; they looked fab on day one) and if I'm re-plastering walls or ceilings to install additional insulation wherever I can. Hedging your bets does cost more, but markets can change with alarming speed. That means it's always best practice to be ready with Plan B, C and D before you get stuck with a property that hasn't been looked after properly. No two properties are the same Yes, there are transferable skills you can take to projects, but every property suits a different sort of person for a different sort of reason. Understanding your market is key to success, and while the cookie-cutter approach can work for big companies, it's better to succeed as a small business doing the best you can.
