my theory is that many people can afford stick built homes in our area
so I see a niche… there are very few lots zoned MFG homes
they are easy to rehab. we will have some cash to invest in the next 2 months. we also have access to some decent repos.
don’t want to use all of our own money…
banks don’t like to loan on mfg as investment property… only as primary & 2nd homes
my thought is to put the homes on the lots, do lease options with tenenats (only do l/o cuz they take better care of property) then refi the property with a 3 yr ballon so we can pay ourselves back & move on to the next project…
input is welcome
email me if you can do loans like this… private or otherwise but if we are looking at rates like 14%, probably not a good idea for us
tia