Updated over 4 years ago on . Most recent reply
Mortgage on mobile homes
I’ll keep this quick. I own 1 mobile home park and I’m currently under contract for another. The second park is 80 spaces with only 2 filled (owners live in one and their son lives in the other, they never got around to filling up the park.) so with 78 spots to fill we will look to buy both new and used. We are going to stay away from lot rent because it’s about 300 - 400 in our area and the homes (2 bed / 2 bath) rent for around 900-1100/month. So how can we go about financing new properties that will be rentals and not personal without mortgaging the land?
also, any tips on finding used ones would be great too!