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Updated almost 3 years ago,
5 mobile homes in 5 acres, how to finance??
Looking at a couple of properties to do a 1031,one of them is a small tract (5 acres) with five singlewides rented generating $2,700 of monthly rent. Purchase price is $259k. I contacted several lenders and no one wants to finance this type of properties, I’m looking for a lender that can do this, I’ll put at least 20% down and have almost 800 points of credit, already own three doors and have a W2 job which I’ve been keeping for 18 years!
Any advice will be appreciated.
Thanks.