Funding Question-First MHP

[Jordyn Rodriguez]

I want purchase my first mobile home park, do think I need to establish an LLC at this time. I plan to go to my current bank and talk to them about their investment property loans which require 15% down. Does sound like I'm on the right path?

Also wanted to ask once I know how much I’m approved for (I doubt I will be approved for the full asking price of $450,000) I planned to hopefully agree to some seller financing. Is there a certain rule thumb on how much you should acquire from verses finance trough seller?

Thanks for all help and advice, I’m striving to purchase before the end of the year.