All Forum Posts by: Michael Frattallone

Hey Alex,

The mobile home park is in Okeechobee, Fl. Purchase price is $575k and 100% POH...12 mobile homes and 100% leased. 

Hey BP members,

I’m looking for commercial lending for a mobile home park in Florida...anybody k now where to secure financing like this? 

Do you have a specific private lender? Lima capital wanted 20% down. Thanks. 

I’m starting to learn that! I guess I’ll have to wait for some more cash and another good deal in the future. I’m new to BP so I appreciate all the feedback! 

He said it’s required with most of his lenders for an investment property! 

Yes I’d be willing to work with someone else! The property won’t last long and I need to get it under contract! No I have not tried that, I didn’t know that was possible. 

Andrew,

Yes it will be solely for investment purposes! I currently have 2 properties leased and rented now but all within the last year.

I've looked into HELOC but I don't have the 75-80% LTV in those properties yet.

I’ll look into some portfolio lenders because it might be worth it and can refinance later! 

Thanks for the help! 

Hello my fellow investors,

I’m trying to purchase a triplex in Tampa, Florida with minimal money down. My broker wants 25% for most lenders and I can only secure about 10%. The property has been completely rehabbed already and is listed for 250k and cashing about $1500 per month. Any suggestions on where I can get financing secured for less out of pocket? Thanks guys!