Updated over 7 years ago on . Most recent reply
Private or Convential Financing for Mobile Home Park
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.
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