Mobile homes investment

[Alex Adamsu]

I live in an area that is growing significantly. There are at least 5 new housing developments being built right now.  I feel like based on where I’m at financially and experience it a little late to invest in this area.  However I do see the surrounding area to be a great opportunity.  I currently own and rent out one mobile home.  I see four lots of land in a mobile home park i would like to purchase and put mobile home on to rent.  On average each lot is going for 10k.   I estimate I can put a mobile home on each between 8 - 10k.   I have 10k saved and 730 credit score.  What the best way to finance the deal ?

[Rachel H.]

@Alex Adamsu When it comes to financing the lots, there are a couple of options. The first one that comes to mind is owner financing. Check with the owner to see if that's a possibility. Other than that, you can look into getting a partner or working with a private lender for the deal. Lastly, you may want to check with your real estate investing club and local mobile home dealerships in the area for referrals on real estate investors and lenders to work with. Hope that helps!