Private or Convential Financing for Mobile Home Park

[Duane Wood]

Objective: I own a  small mobile home park in Warner Robins, GA and am seeking non-recourse private or conventional financing.

Background: The park was purchased with all cash in 2016. Over the past 16 months I have been turning units and stabilizing the asset. Now that several units have been turned and the park is performing I am seeking to place long-term debt on the park in order to free up equity for other deals.

Property Details

• Property Type: Mobile Home Park
• Lots: 12
• Average Lot Rent: $250/month

Financing Terms Sought

• Loan Amount: $113,750 (65% LTV based on $175,000 market value)
• Interest Rate: 5%
• Amortization Term: 15 years
• Balloon: 5 years

If this is something you would be interested in, I would be happy to provide more detail and answer any questions.

Thank you.