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Updated 7 months ago on . Most recent reply
Financing a mobile home and using an LLC?
We are looking at buying a park model home and land. We want to finance it, but the lenders like 21st mortgage will not loan if it's an LLC.
We are wondering how we can finance a mobile home + land but have it under an LLC instead of our personal names.
This is because we plan to Airbnb it.
Also it is a park model which is considered and RV due to it being 399sq ft.
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Quote from @Paul Ross:
We are looking at buying a park model home and land. We want to finance it, but the lenders like 21st mortgage will not loan if it's an LLC.
We are wondering how we can finance a mobile home + land but have it under an LLC instead of our personal names.
This is because we plan to Airbnb it.
Also it is a park model which is considered and RV due to it being 399sq ft.
Check with your local community bank and credit union. You may have to talk with a lot, but typically every town has one that will finance them for you.
I suggest building relationships for private money, this is how we fund out mobile home with land deals which we buy.