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Updated over 4 years ago on . Most recent reply

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Cor Van de Water
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Finding creative long term loan, low interest multi-multi-million

Cor Van de Water
Posted

First time poster here, please be patient with me. My question is how to find a *large* loan for very long term at low interest?

Background: We live in a Mobile Home community and want to buy the park from the commercial company who is exploiting the lack of regulations to run the residents out of their equity and their cash by excessive lease increases.

When we can find a way to get between 250-300 mio at a rate as close as possible to 2% and paid down in about 50 years, then we can stop the lease increases by converting to resident-owned park and use the existing cash flow to pay down the loan, besides residents who might outright buy their share and pay off instantly.

Any creative financing options out there if we want to allow some residents to remain leasing and some to buy their share immediately or upon sale of their home and their share of the park?

Average lot lease is currently around 1800 and there are over 800 lots, so revenue is almost 18 mio yearly, paying for a handful of staff, maintenance but the majority of it is available for interest and paying down principal.

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Eric James
  • Investor
  • Malakoff, TX
2,525
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Eric James
  • Investor
  • Malakoff, TX
Replied

You want a  multi million dollar loan at 2% interest amortized over 50 years. And you want to be able to sell off pieces of the asset without paying off the loan. Is this a joke?

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