Looking for financing options for mobile home park purchase
I am looking for financing options that are better than my local lender is offering for a 16 unit mobile home park that is 100% lot rent only inside Charlotte, NC city limits. The park is on city water, septic, and has recently paved roads and updated septic. This park produces strong cash flow with minimal expenses. Local lender is offering financing with 20% down, 5% rate for a 20 year amortization, and a 5 year balloon. I am interested in finding an option without a balloon. If interested, please let me know. We are attempting to close by the end of 2019.
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