All Forum Posts by: Harris Jones

We actually weren't able to take on this project due to COVID — we were a little skeptical on what would happen to the market. We did find some lenders by searching online, but never actually got to that point in the deal. We called Vanderbilt, 21st Mortgage, eLEND, and a few local companies. Good luck with your venture, Alexander! Feel free to let us know what you find — we may eventually get back into manufactured homes if the opportunity arises.

I am looking to buy a mobile home with land as an investment property. We wanted to flip it, but my team is unfamiliar with lending requirements for mobile homes. We want to make sure that a buyer will be able to receive lending on the property before we decide to take it on.

From what I've researched, it looks like most lenders require it to be built after 1976, not be in a trailer park, inspected by a structural engineer, and to have a "permanent foundation". I've read a lot of different descriptions of a permanent foundation for mobile homes, and would love it if someone with experience could clarify this for me. Is a permanent foundation defined as axles removed, jacks, and being tied down with skirting around it? Or must it have a brick or cinder block foundation to be considered permanent?

Also, are any other requirements that I'm not aware of or "gotchas" that we should look out for? Thanks, BiggerPockets!

@Jonathan Anderson I had a family emergency come up and won't be able to make it tonight. Hope you guys have a great meetup — looking forward to the next one!

@Jonathan Anderson I will be there. I reached out to my investing partner to see if she can make it, too. Looking forward to meeting everyone!

Also, just a heads up — when I search for this event in the app it doesn't show the location and time, just the discussion thread, which may be the culprit of the confusion. Until BP can rectify that, it may be beneficial to add the location and time in the first comment so that app users can see the information.

@Neil Schoepp

@Neil Schoepp I am a new investor in the upstate, but I was born and raised in Greenville, SC and have seen the growth of San Souci. I currently live on the other side of Cherrydale, towards Paris Mountain State Park. My personal recommendation for investing in that area is to stay close to W Blue Ridge Dr and don't go too far past Franklin and Perry. I haven't recently driven outside of what I outlined below, so it could be moving outward. A lot of homes on W Blue Ridge Dr before Franklin have already been renovated, so the competition over there is fierce.

Feel free to come visit the area around the time that they hold the Upstate CREIA meeting. You'll be able to talk to other investors who already have experience in that area. The last time I went, they discussed new developments downtown like Unity Park and NorthPointe. You can find the schedule here: https://www.upstatecreia.com/

Hope this helps! (Sorry I have little experience so far, so I can't give a more detailed response.)