Trying to obtain lending on a parcel with both a regular home and mobile home on it

[Ryan Shpendi]

Hello everyone, I'm new to this forum and new to real estate investing. I'm excited to be a part of this forum to discuss, learn and provide whatever related knowledge I could along the way as well. 

I am looking at a prospective out of state long distance deal that has been difficult to obtain lending on as there is both a regular home and mobile home on the same property and the mobile home causes the potential investment to not meet conventional guidelines and therefore not even DSCR loans are an option. Mobile lenders also do not seem to want to lend on it due to the mixed nature of it. Other options such as seller financing, hard money loans and commercial loans that I have looked into all seem to require a balloon payment of sorts which I am not convinced I'd be able to refinance it for the balloon payment being that it has shown difficult to get a loan on it as it is now.

So just wondering if anyone is aware of any type of loan for this unique situation? Some other loan type that would not interfere with the projected ROI would be ideal but not sure if they exist, any thoughts? Any other tips on this situation would be appreciated as well.

[Erik Estrada]

Quote from @Ryan Shpendi:

Hello everyone, I'm new to this forum and new to real estate investing. I'm excited to be a part of this forum to discuss, learn and provide whatever related knowledge I could along the way as well. 

I am looking at a prospective out of state long distance deal that has been difficult to obtain lending on as there is both a regular home and mobile home on the same property and the mobile home causes the potential investment to not meet conventional guidelines and therefore not even DSCR loans are an option. Mobile lenders also do not seem to want to lend on it due to the mixed nature of it. Other options such as seller financing, hard money loans and commercial loans that I have looked into all seem to require a balloon payment of sorts which I am not convinced I'd be able to refinance it for the balloon payment being that it has shown difficult to get a loan on it as it is now.

So just wondering if anyone is aware of any type of loan for this unique situation? Some other loan type that would not interfere with the projected ROI would be ideal but not sure if they exist, any thoughts? Any other tips on this situation would be appreciated as well.

You can do it on a manufactured home DSCR loan. Land cannot be on a lease.