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Updated about 1 month ago,
Small Mobile Home Park Financing
I own a unique mobile home park in South Carolina that's relatively small (5 acres) comprised of 12 lots (I own 8 of the homes while the other 4 are owner-occupied and charged lot rent) along with a house (3 units). All units are currently rented. I have just over $200K left of owner-financing, but I'd like to obtain a cash-out mortgage/loan of $500K (ideally) to be able to pay off the previous owner and make some repairs, etc. I'd estimate the current value of the property around $1M. Are there any lenders on this forum that would be willing to loan?