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Updated about 4 years ago on . Most recent reply

User Stats

16
Posts
13
Votes
Michael Bush
  • Rental Property Investor
  • Black Mountain, NC
13
Votes |
16
Posts

Struggling with a hybrid manufactured home deal

Michael Bush
  • Rental Property Investor
  • Black Mountain, NC
Posted

Under contract - 6 lots / 5 homes 1500sf
permanent foundations - long term tenants 
all remodeled with very nice finishes
high 8 cap
1.79 DSC Ratio
Value add opportunity: Adding the extra home on lot 6 will make this good property a great one!
Each lot is individually pinned.

Turned down 15 times and counting. Of those 15 only 3 looked at the MLS and my proforma. All said it looked great but..I'm now cold calling from the web.
Commercial loan officers what am I missing? Any suggestions?

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