Moblie home financing

[Koob Moua]

Hey guys,

I was looking into mobile homes to buy and rent. Does anyone have any experience, because I live out in Southern california and wanted to invest in 4 plexes but noticed that it is pretty expensive out here. And I am looking into moblie homes to start off with since it seems pretty cheap and by looking into cash flow seems like its probably a better bet to go with. Do you guys know if banks will loan on mobile homes? And if I do buy a mobile home is there any fees that you have to pay to rent the space? I am new to this so any adivce will help.

Thanks!

[Paul Tschetter]

@Koob Moua My only experience and understanding currently is that conventional banks will only lend on mobile homes if they are owner occupied. I have only done deals like this when the mobile is on its own parcel (not in a park) so park mobiles may be different. There is always a way though for an investor like you with private or seller financing to get these types of deals done.