Setting up owner finance for a deal

[Dustin Maxwell]

Hi all,

Looks like we found a park around Macon, GA before heading to the Nashville MHU bootcamp in a couple weeks. The listing broker mentioned a possible finance with a baloon payment. Anyone with some experience able to chat and provide some advice on this?

[Victor Menasce]

Did the broker offer this up unsolicited? That's often a red flag that there might be something hidden in the property that makes the property impossible to finance. Seller financing can be great, but you need to make sure that this is simply a choice, rather than a necessity.

[John Jacobus]

@Dustin Maxwell, we have closed 3 MHP’s that include seller financing.  It’s fairly common on smaller parks.  We are in the process of closing a park in Milner, GA as we speak.  Send me a DM and we can discuss details.  

[Rachel H.]

@Dustin Maxwell Definitely something to discuss with the seller when you meet them. If you can find out their motivation for selling using owner financing, it should help. When discussing terms and rates, it's best to have a few options available. Good luck!