So I just bought a mobile home park with a car loan..

[Brandon Brown]

Hey BP, I am excited to share my creative finance story on this deal I just wrapped up.  So the mobile home park details are as follows:

Purchase price: $110K

13 homes, 2 lot rent and 11 park owned.(2 vacant units)

City water/septic 

Rent: $200-450

Auto Loan 20%down, 7.75% for 6 years full amortization.  

The payment is kinda high but I like the idea of having it paid off in 6 years.   This local bank proposed these terms and I accepted. It was by far the easiest loan process I’ve ever done.  So now I own 2 mobile home parks, a duplex, and my single family home.  The wheels are starting to spin faster and I’m building momentum.  Please respond with comments and questions.

Brandon