Need help financing Redneck Dream Property.

First of all, please don’t take this as a derogatory title. I am the principal, and I am by choice, a redneck. :smiley: If you think there is no way this could happen, I’d also like your opinion on that too.

Here are the details:

  1. I currently have a lease option on a 16 acre property in Wilson county TN located inside a state park, property values in this area have gone way up in the last 18 months and are now approx 2x the price I have agreed to buy it for. My landlord has agreed to let me sell the lease option (by finding a buyer for the property and keeping the difference)

  2. I have found a property with 5 acres a little further out in the country. It has a 1997 singlewide, barn and fences. It is selling for $115,000. Depending on the sales price of my current property I will have between 40,000 and 80,000 to put down.

Best case scenario I would like to combine the following in a construction - type loan:
115,000 purchase of new property
30,000 trade difference on new single section mobile home
34,000 additional outbuilding for riding arena

179,000 total

  1. Due to some recent business problems, my credit is lousy. (515 mid) I have current car notes, etc in good standing. I could also buy the property as a trust or corporation if necessary. Currently, I have good cash flow. (10k/month)


  1. Is this possible?
  2. Is there any other way to do this? (just buy the land, pay cash for the other, etc…)