Las Vegas, NV · Member since 2014 · 7 posts · 2 votes
Hey fellas,
Trying to find some good lenders who might be able to go up to 75-80% on some MHP parks in OH/IN/IL or other Midwest states. Myself and other business owner friends are looking to find some safe deals to park our cash, and will want to find a good way to lever up on the financing. Lower LTV is okay on a case-by-case, but higher the better.
Most of the parks we're looking at have city water/sewage, paved roads. I know these are usually two factors they like to see, but I'm a numbers guy not the subject matter expert here, errg.
San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
8y
@Joshua Kim Check with some local mobile home park owners in your area as well as your local manufactured housing association. They may be able to give you some referrals. Good luck!
Rental Property Investor · Friendswood, TX · Member since 2010 · 663 posts · 508 votes
8y
@Joshua Kim - John Medernach , First Secure Community Bank Sugar Grove IL. As far as I know, they are a lender on parks in all of those states ( i believe min loan size is 500k ) . You wont have the cost and agony we had to find him :) Good luck