Hard Money to Purchase Mobile Home Parks

[Jason Crowe]

Does anyone use Hard Money for buying mobile home parks?  Is it possible?  What was your experience?

[Mario Dattilo]

Jason hard money will likely not make financial sense on these deals unless you’re flipping out of them or creating enough value to refi them quickly. Between banks and seller financing options you should not need to get aggressive financing like hard money. I wouldn’t advise it. Banks finance parks every day. It’s knowing what type of banks and how to sort through them that will get the loans done. You can often get sellers with properties that can’t be financed to carry paper to give you time to stabilize the property to make it bankable and refi them out. High leverage hard money is risky and not recommended.