Trailer Park Lot

[Nichole Menzies]

How do you find trailer park lots and are they easy to obtain a loan for purchase?

[Paul Stout]

Ditto on what Jack said.  You may find a park that already has bank financing.  If so and if the owner is running the park properly (big if) the bank will most likely want to keep it on their books.  There are mortgage brokers that have experience with parks that can help.  Most national and international banks will not be worth investing your time in.  Small local or regional banks are your best bet.  If it's a good deal and you are a good borrower (good credit, payment history, and steady income) they will probably work with you.  I highly recommend putting together a professional looking and comprehensive package to give to the bank which has pro forma for multiple scenarios looking ahead at least 5 years.  I just secured a loan from a bank for a park and I used 8 different pro forma scenarios and included quite a bit of information about the market and parks in the same area.  The bank loved it and gave me a yes within days.  I also wrote a bio on myself.  Many small banks will not work with people from out of town.  The bio broke down that barrier.