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Updated over 2 years ago on . Most recent reply

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Wendy Vigeant
  • Real Estate Agent
  • Saint Augustine, FL
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Is there Lenders that will do a MObile Home cash out owned by LLC

Wendy Vigeant
  • Real Estate Agent
  • Saint Augustine, FL
Posted

I am having the worst time finding a lender that will do a MH cash- out once I am finished rehabbing it. I will have it rented out for 1500/month. It's owned by my LLC. I bought it in July. Its a doublewide and is REAL property tied into .35 acre. I keep getting lenders that are like - Yeah- We can lend on it but some reason or another they can't. I had a new roof put on, new anchors/tie-downs per a HUD engineer, up to code electrical and panel, up to FHA standards and current code plumbing and new AC.

I need to pull the cash out so that I can do another Fix/flip or BRRR

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Rachel H.#2 Mobile Home Park Investing Contributor
  • San Antonio, TX
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Rachel H.#2 Mobile Home Park Investing Contributor
  • San Antonio, TX
Replied

@Wendy Vigeant You may want to check with local banks or credit unions. Also, talk to local mobile home dealerships. In the past, I've found them to be good sources of information for market insight and referrals. 

It is pretty tough to get these types of homes cashed out when you need to pull money from them. Good luck! 

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