Looking for Finance Options for a Rental Purchase
I am in negotiations with an asset manager who has a home in the foreclosure process. There is a tenant in place, not the person being foreclosed upon. The home is a double wide mobile home on 1 acre of land in North Carolina. The bank has had an exterior appraisal completed and I have a verbal offer down to 60% LTV.
The tenant wants to purchase the home and needs a little more time to get financing place.
My question is about seeking some financing / lenders to help facilitate the deal. It would be a short term lease option scenario. I contacted 2 HML but neither would finance a mobile home. Just thought I throw it out there to my BP community.....any suggestions?