Looking to Purchase property with Permanent structures and mobile homes

[Israel Ruelas]

Hello BP Team,

I'm seeking some guidance on a potential property purchase and would greatly appreciate your expertise. I've previously invested in single-family homes using conventional loans, but this deal is a bit more complex. It's a multifamily property consisting of:

• 1 Single-family home
• 1 Duplex
• 6 Single-wide mobile homes
• 1 Double-wide mobile home

Here's a breakdown of the financials:

• Asking Price: $600,000
• Monthly Taxes: $300
• Monthly Insurance: $350
• Management Fees $800
• Gross Monthly Rental Income: $8,050 (only one unit is vacant)

My primary challenge is understanding the loan options available for this type of mixed-property purchase. I'm unfamiliar with financing for properties that include both permanent structures and mobile homes.

From my forum research, a DSCR loan seems likely, but I'm unsure of the specifics. I've spoken with a DSCR broker who indicated that securing a DSCR loan for properties with more than four units typically requires significantly more effort and capital and are best suited for properties with 4 or less units.

Specifically, I'm looking for advice on:

• Potential loan types suitable for this property
• Lender recommendations.
• Any unique considerations or challenges associated with financing mobile homes in this context.
• Any advice on the due diligence when purchasing this type of property.

Any insights or guidance you can offer would be incredibly helpful. Thank you in advance for your time