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Updated over 6 years ago, 06/05/2018
Small Mobile Home Park (best financing strategy??)
I have a small park under contract.
4 pads
2 acres (County water and septic)
4 single wides (3br/2ba)
Currently rented $500 each.
Asking price is $80,000 but plan to counter.
My question is what's the best way to finance this size property being only 4 units?
Traditional mortgage on land and separate loan on homes? It's in a USDA approved area, will that apply to this type of deal with $0 down. What loan term would I be looking at also with this size and type loan?
Or should I try to get seller financing?