Private lending for mobile home parks? Would 12-15% interest be fair?

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Private lending for mobile home parks? Would 12-15% interest be fair?

Boston/NYC · Member since 2019 · 7 posts · 5 votes

Would anyone be interested in a private lending opportunity for a mobile home park?

💰 Interest: 12-15% annual interest rate (balance+interest paid at sale)
🏦 Proposed funding: $450k (can be spread between a few individuals)
🤝 Position: 1st position note, secured by property value
⏰ Hold period: 12-24 months (exit via sale or refi)
🤔 Hair on the deal: This Park is around 1/3 occupied and in a tertiary market, but should have no issues with infill based on test ads.

Happy to share more details via DM or responses here. Or if there's any feedback that would be appreciated as well.

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