Financing For New Manufactured Homes Used as Rentals?

[Mike Akerly]

I am starting to explore a new business plan in CA that would essentially include placing newly constructed manufactured homes on lots that I own for rental in the Section 8 program.  My question right now is, is anyone aware of a financing program that's available for the acquisition of the manufactured homes?  I've made some calls to chattel mortgage lenders, but struck out so far on the investor use.

Any more creative ways of financing the investment besides a long-term chattel mortgage (e.g. perhaps a lender willing to lend against the homes alone or the homes and the land once the project is stabilized?)?  Or suggestions on a private lender willing to do something like this with a single digit interest rate and a medium- long term (i.e. I know I may be able to use hard money up front, but I will still need to take them out if this is going to be viable)?  Any advice would be appreciated, thanks!