Mobile Home Park Financing
Where is the best place to obtain financing for the purchase of a mobile home park? Local banks, national lender, hard money...???
Where is the best place to obtain financing for the purchase of a mobile home park? Local banks, national lender, hard money...???
Well it depends on what you mean by "best"
The "best" one, of course is the one that will actually loan you the money.
That said my guess is that the best rate will be the local bank.
feltman and commercialking:
THANK YOU! I feel like I can take a deep breath and calm down a bit. The scenarios you both mention are new to me, but I am open to learning more effective, efficient, but mostly profitable ways to work deals.
I will look into the recommendations that you both offered and post what I came up with. I appreciate your advice very much.
You could get a HELOC on the house, mine is at prime rate and it didnt cost anything to set up. Took about a week to do it and they could wire the funds faster I would imagine if all the paperwork got in.