I’m looking for financing on mobile home parks. I know the financing is usually different from nomal financing. If you know of any good programs that deal with mobile home parks please inform me. Or if you know of any creative ways of investing in these parks please let me know. Thank You in advance.
you may want to post this over in the commercial forum…
There are lots and lots of lenders that do Mobile Home Parks. If you want to go direct, then find your lender at www.WeirdLoans.com. If you want a broker to get you the best rate, go to www.CommercialLending.com. They will have direct lenders and brokers.
It’s tougher to do development loans, but an ongoing mobile home park is easy. But in the pursuit of due dillegence, I would go to the closest bank in the area where the park is located. If there’s any warts on the deal, they’ll know. Also, because the park is physically close, they will like doing business. (the closer the better)
:beer thank you very much for that
I think you will find several MHP finance companies at www.mobilehomeparkstore.com they are not to hard to find. Even the one on my site finances them.
I have found that in most of the locations I have looked at parks in, most of the local banks will finance the local park.
Richard Stephens
Two good sources are Clayton Bank & Trust and Bankers Mutual (Lauren Huffman). You can find thier contact information at http://mobilehomeuniversity.com/mobile-home-investing-resources.html