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Updated about 2 years ago on . Most recent reply
CASH Program through 21st Mortgage
Hey everyone,
I am looking to buy my first MHP but filling it seems like the biggest hurdle. Although it cashflows now it has a significant amount of vacant lots. I read about 21st Mortgage and they seem to have a program where you can use their capital to place mobile homes as well as cover setup fees. Has anyone used their system for this before?
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#1 Mobile Home Park Investing Contributor
- Real Estate Investor
- Ste. Genevieve, MO
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#1 Mobile Home Park Investing Contributor
- Real Estate Investor
- Ste. Genevieve, MO
Their initial requirement is that your park has at least 50 lots and at least 10 vacant. While not set in stone, they rarely vary much from this size metric.
We were there when the program began -- being one of the test groups in the pilot program. The CASH program has evolved over the years to the benefit of community owners and is the best way possible to fill vacant lots in any mobile home park that qualifies.
That being said, you need to reach out to 21st to see if your property qualifies to get into the program.