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Updated 12 months ago on . Most recent reply

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Paul Ross
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Financing a mobile home and using an LLC?

Paul Ross
Posted

We are looking at buying a park model home and land. We want to finance it, but the lenders like 21st mortgage will not loan if it's an LLC.

We are wondering how we can finance a mobile home + land but have it under an LLC instead of our personal names.

This is because we plan to Airbnb it. 

Also it is a park model which is considered and RV due to it being 399sq ft. 

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Adrian Smude
  • Rental Property Investor
  • Plant City, FL
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Adrian Smude
  • Rental Property Investor
  • Plant City, FL
Replied
Quote from @Paul Ross:

We are looking at buying a park model home and land. We want to finance it, but the lenders like 21st mortgage will not loan if it's an LLC.

We are wondering how we can finance a mobile home + land but have it under an LLC instead of our personal names.

This is because we plan to Airbnb it. 

Also it is a park model which is considered and RV due to it being 399sq ft. 



Check with your local community bank and credit union.  You may have to talk with a lot, but typically every town has one that will finance them for you.  
I suggest building relationships for private money, this is how we fund out mobile home with land deals which we buy.  

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