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Forums » Seeking Financing, Money, or Loans » Help! need funding for rehab MHP

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Anne and Tim Birrell

Real Estate Investor · Titus, Alabama


Forum_avatar_avatar-birrell

Sep 05 '08, 06:08 AM

I am trying to purchase a rehab mobile home park. I have had great difficulty in getting a loan. It is a 75+ unit park on 10 acres, all homes are park owned. Only 13 trailers are being rented out. Nets about $5k a month. The rest of the trailers need rehab- some just carpet,paint, etc. Some need major work. Purchase $400k, rehab $100k. When finished park will be worth at least double what was paid. I only have about $80k for down, which leaves me with little for rehab. Does anyone have any advice? Lenders? Partners?

Edited: 06/26/2010 at 05:51AM




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