Updated almost 2 years ago on . Most recent reply
Need Private Money Partner
I have a property under contract that currently has 2 singlewide mobile homes on it. One is from 1969 and the other is from 1971. They have both received major updates and are in pretty good condition. I only have the cash for 20% of the purchase and need a private money partner to do the deal with. I am willing to do a deed of trust (mortgage) with this person and could do either 20yr fixed or 5yr interest only. I'm thinking somewhere around 10-11% interest. Rents will more than cover the loan and upkeep with plenty of room for additional cashflow for myself. I've already tried various hard money lenders but no one wants to consider the mobile homes. Where can I go to find someone who is not afraid of mobile home rentals, willing to fund the remaining 80% of the purchase?