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Updated over 1 year ago on . Most recent reply
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Financing for mobile homes for rental purpose
I have a MHP and need to replace a few homes with new ones. Are there any financing options to purchase manufactured homes under a business for the purpose of renting them? Any suggestions on funding would be appreciated.
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Quote from @Madison Clark:
Thanks so much for you help with this. Lot rent in our area runs around $200 month. We could rent a new mobile home for around $1,000 a month. I know if we finance we would be looking at around a $600 payment but in order to pay it off quickly, we would need to take that $400 dollar difference plus additional to pay it off in 2 or 3 years. I'm not well versed in finance so I am trying to figure out how this all works. Thanks again for your replies, I do appreciate it.
Hope this helps!