Mobile Home Park - Equity Line of Credit
Hey everyone,
My mom and I purchased a 50 unit RV park & campground 3 years ago for $1.2M. We put 50% down and financed the other $600K. We just got a new appraisal back and it reappraised for $3.6M. Looking for ways to draw on the $3M of equity but having a tough time getting an equity line of credit loan as it is considered a special use property. Thoughts on ways to draw $2M on that equity to put down as a down payment on a $6M multi-family complex?