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Updated over 9 years ago on . Most recent reply

Mark Brown's profile image
Mark Brown's profile image
Mark Brown
  • Investor
  • from Birmingham, Alabama
  • Member since Jun 8, 2015
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17
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0
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Mark Brown's profile image
Mark Brown's profile image
Mark Brown
  • Investor
  • from Birmingham, Alabama
  • Member since Jun 8, 2015
Connect
Mark Brown
  • Investor
  • Birmingham, AL
0
Votes |
17
Posts
Mobile Home Park Investing

How do you guys feel about financing a park with variable rate debt?

Mark Brown
  • Investor
  • Birmingham, AL
Posted

I have a banker who will lend me what I need for the deal with 20% down and a variable rate 30 year loan, fixed at 5% for 3 years.  Not sure what the cap would be on the rate.  Rate is tied to LIBOR.  ARMs make me nervous, but do any of you use them frequenly for MHP purchases?

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