need 70% ltv loan for mfg home projects

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

Dr.

It will be very difficult if not impossible to find investment loans for manufactured homes. You might try looking at repo’d manufactured homes for better pricing, but once again you will have to come out of pocket to make it work.