Looking for high LTV loans for rentals- DSCR or similar.

[Dan Kennerson]

Hi BP,

I'm looking at a property with two mobile homes on foundations on a single lot. When I first found them, the price seemed to be too good to be true, and I've found why- no one seems to want to finance Mobiles on land without ~30% down. 

This property is C class, but in an area that I think is up and coming, the mobiles were recently renovated, and comparable rents are ~$1300/mo each, so $2,600/mo. Which in my mind is pretty great seeing as how the PITI should be in the ballpark of $2,000/mo. That ratio made me immediately think of DSCR, but they want 30% down specifically because they are mobile homes.

I could put 30% down, but would rather hold that cash in reserves and/or be able to buy more properties. 

Anyone have clever ideas for me here? Appreciate it!

Dan