Updated about 9 years ago on . Most recent reply
Low down payment to buy trailer park
My son and I are looking to buy a mobile home park in Louisiana. It is a 8 space park with 6 park owned mobile homes all currently rented out. My son will be owner/occupant/manager of the park. What I would like to know is:
A: Would this property be eligible for FHA financing and if not what type of financing would require the least amount down?
B: Can we count the rents from these units as income for financing purposes?
Other than buying my own home, I have no real estate investment experience.
Thank you to anyone who can answer my questions.
Carla in Colorado