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Updated almost 3 years ago on . Most recent reply
BRRRR - Manufactured Home - Financing Options
I close on my first investment property this week. It is a manufactured home on a permanent foundation. The home will be de-titled at closing. I am purchasing using private money and funding the rehab myself. My question is, how difficult is it to get these types of properties refinanced? I will list the details below. Cashflow on this will be decent, and I really want to hold it as an LTR versus selling if I can get the property refinanced. Does anyone have any advice or experience with this? Anyone you would recommend reaching out to for lending?
PP: $95k
Rehab: <$20k
ARV: $150k (this is a conservative ARV)
Monthly Rent: $1300+
Most Popular Reply
- Realtor, General Contractor, and Developer
- Redding, CA & Bend OR
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What year is the manufactured home? Has it been moved more than once? Would you own the lot, or is it in a park? If in a park, what is the policy on rentals?
- Karen Margrave