Mobile/Manufactured Home Parks

Financing, Hard Money Lenders, Private Money
1

I would like to get some input about financing a park. I have two that i am looking at.

  1. $850k 40 space 10%cap NOI
  2. $800k 44 space 7.20%cap NOI 57k

The owner for #2 will carry a first note and deed of trust in the amount of 520k @6% interest 30/5 with monthly payments of $3117.66 with 280k DP.

Im still doing due dilligence on them. However, Ive spoken with a broker and he said it was nearly impossable to get financing on them and I would need to get a HML. I am looking for options to get these purchased. I dont have the funds for a DP and would consider a partnership. Unless anybody has an idea about financing?

Thanks in Advance

Ron R.