I was told that an oil company bought a ton of fully furnished mobile homes for the Bakken oil patch. They are now selling these homes.
They are brand new never used homes.
They are fully furnished, pots,pans etc
I realtor told me about them but he is representing a group who bought a ton of them so he wont tell me what oil company they came from.
So I am trying to find out how i can get ahold of a few of my own homes.
Does anyone know what company to contact.
I have done a couple of google searches on it but didnt find anything.
I recently bought a park and could use some homes to fill it up.
Thanks
Travis
Since it is very likely that either Champion or Fairmount supplied some or most of the homes, I would call the Area Manager at the plants nearest to the field and see what they can supply in the way of contact information.
I'm not familiar with this particular project. However, I can tell you that if you are planning to purchase them to place on private lot/parcels to turn and burn as a land/home package that you will not be able to find any financing for your buyers. Once they have been moved or relocated from their original situs most conventional lenders won't touch them for a long term 30 yr fixed loan.
If your intention is to put them in a MHP and rent them that's a whole other story. But you just better own the park because subletting is not allowed in most MHP's. Additionally, a lot of these homes were pretty bare bones and only singlewides which are much more difficult to deal with.
@John Arendsen I could be wrong but I believe financing would still be available. Of course banks don't typically lend on mobiles if these homes are truly new and properly installed you can likely get some lenders to help out with homes selling for at least $50k. If under, its not worth a bank to take the risk and do the paperwork.
@Travis Elliott Where is your park located? You'll have to locate the proper movers which is going to be 5-6k per single unit in that area unless you can get a bulk deal which is likely. As for selling keep in mind what the average home is selling for in your area. If someone can put down 10-20k down on a stick built its harder to justify a 50k mobile home in a park. Ideally, if it were me, new homes put on lots would likely turn a better profit but I could be wrong. I'm in Fargo, so if you've got questions let me know!
@Steven J. We've been working with any/all lenders for 30 years on lot/parcel resident owned manufactured home projects and I don't know of any that will lend on a MH that's been moved from its original situs. If you know of any so enlighten me. We're always looking for new lenders that do conventional 30 year fixed MH loans.
On loan limits I totally agree. In fact I don't know of any that will even talk to you for less than 100k. Only HML's as far as I know.
in my area it's only small credit unions that work a local area.. They often want t o know your success history too. To be fair, I haven't done a month Ile home above 50k as I've financed them myself. My guess is those looking at 50 to 100k will likely not qualify for traditional lending.
I was told that an oil company bought a ton of fully furnished mobile homes for the Bakken oil patch. They are now selling these homes.
They are brand new never used homes.
They are fully furnished, pots,pans etc
I realtor told me about them but he is representing a group who bought a ton of them so he wont tell me what oil company they came from.
So I am trying to find out how i can get ahold of a few of my own homes.
Does anyone know what company to contact.
I have done a couple of google searches on it but didnt find anything.
I recently bought a park and could use some homes to fill it up.
Thanks
Travis
Since it is very likely that either Champion or Fairmount supplied some or most of the homes, I would call the Area Manager at the plants nearest to the field and see what they can supply in the way of contact information.