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Updated about 2 years ago on . Most recent reply

User Stats

64
Posts
15
Votes
Carolina Mejia
  • New to Real Estate
  • Duluth, GA
15
Votes |
64
Posts

Financing for investment 4 single wide trailers

Carolina Mejia
  • New to Real Estate
  • Duluth, GA
Posted

Ok, I got my first counter offer. I was able to get $35k off of the asking price. $165k is what we ended up on. It's a group of 4 trailers built in 2017 sitting on .70 acres of land in a rural part of GA. 1bed/1bath single wide trailers with HVAC and city sewer & water. They are all move in ready. I called a lender and they do not offer financing for the trailers since they are single wide. I'm going to keep calling but I am reaching out here to see if anyone knows any lenders - this is for investment purposes and i won't be living there. Any ideas?

Most Popular Reply

User Stats

1,166
Posts
888
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Chris Davidson
  • Real Estate Agent
  • Boise, ID
888
Votes |
1,166
Posts
Chris Davidson
  • Real Estate Agent
  • Boise, ID
Replied

@Carolina Mejia Will the seller carry, can you get private or hard money. 

Can you get funding from somewhere else in your investments. 

If you can't get financing try asking the seller if they used financing, and if not give back some of the price reduction and see if they will carry the terms for you.

I would work on lining up financing/ funding before negotiating deals as it is less than ideal to be in a deal you could never fund.

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