Hey BP members,
I’m looking for commercial lending for a mobile home park in Florida...anybody k now where to secure financing like this?
What city in Florida?
What's the purchase price and % of POHs?
There are a few nationwide commercial providers who entertain these that we work with. They generally want to see a town of at least 25,000 and county of 100,000 with sub 19% POH because no value is applied to the mobile units. (just the land and it's ability to produce lot rent).
The mobile home park is in Okeechobee, Fl. Purchase price is $575k and 100% POH...12 mobile homes and 100% leased.