Investor · Charlotte, NC · Member since 2018 · 77 posts · 41 votes
Hi! I'm looking for private money for a cash flowing 8 unit mobile home park in Dallas, NC. Ideally looking for something short term 12-24 months max that I can refinance out of later. The seller has a great relationship with the tenants and is reluctant against having physical appraisals and inspections, which has made it difficult to work with traditional hard money lenders.
Investor · Charlotte, NC · Member since 2018 · 77 posts · 41 votes
7y
@Nasir El Ameer You're absolutely right! In most cases I would get an appraisal too, however being a licensed broker I'm confident in the value of the property. The seller has a great relationship with the tenants and they are unaware that he's selling the property, so he's hesitant to have inspectors and appraisers around. The purchase price is $130k, all 8 units are rented with stable tenants and gross rents are $3625/mo. IMO its worth it lol