Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Mobile Home Park Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 7 months ago,

User Stats

28
Posts
12
Votes
Joseph Chacko vellukunnel
  • Rental Property Investor
  • Hudson County
12
Votes |
28
Posts

financing a small mobilehome park with 100% POH

Joseph Chacko vellukunnel
  • Rental Property Investor
  • Hudson County
Posted

Hi BP,

I am looking to finance a relatively small deal.  its a 4  unit mobile home park, all POH, 100% occupancy with slightly undermarket rents  separate sceptic and a single well.

At the asking price of $240K, there is 12% cap rate. Two of the homes are over 25yrs old, and offer the upside potential to renovate and increase rents to market once the current tenants move.

Question to this community is, are there any recommendations for lenders in this deal size and in this area?

side note, I am new to MHP investing, and I'm also thinking that working with a lender will make sure my sure diligence is thorough.

thanks

joseph

Loading replies...