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Mobile Home Park Investing

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Arthur Eggink
  • Lancaster, NY
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How to find the down payment

Arthur Eggink
  • Lancaster, NY
Posted Jan 31 2017, 17:50
Hi everyone very new to both bigger pockets and real estate investing. My wife and I have been looking at properties for the last month and came across a mobile home park with 51 units,49 of which are rented, that grosses near 200 k per year and has a net of about 35k per year. The cost is a bit over 1.3 million and we are trying to figure out how to come up with the 25% down. This is much bigger than we thought for our first deal however the numbers are great it is a great property and so far is just to good to shy away from. Plus all I have is Brandon turners voice in the back saying "JUST DO IT". So I was hoping to find out if anyone has ideas on acquiring such a large down payment or another way to find financing for this deal. Any information is welcome. Including what potential problems there are for mobile park investing. Thanks everyone!!!

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