Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 13 hours ago on . Most recent reply

User Stats

11
Posts
5
Votes
Daniel Sharma
  • Investor
5
Votes |
11
Posts

Does this deal make sense?

Daniel Sharma
  • Investor
Posted

Curious to know your thoughts on this deal: https://www.biggerpockets.com/analysis/rentals/966fcbda-74f4...

Does it make sense? Anything seems off to you?

  • Daniel Sharma
  • Most Popular Reply

    User Stats

    11
    Posts
    5
    Votes
    Daniel Sharma
    • Investor
    5
    Votes |
    11
    Posts
    Daniel Sharma
    • Investor
    Replied
    Quote from @Jaycee Greene:
    Quote from @Daniel Sharma:

    Hey Jaycee,

    I'm not too sure, I'm doing this for the first time and I am assuming it is eligible for a conventional bank loan (20% down). Feel free to correct me if I am wrong :) 

    @Daniel Sharma It's not you as a borrower, but rather it all depends on the construction/permanence the property. I suggest running this by a lender to be sure that it conforms to Freddie/Fannie guidelines for MHPs. If it doesn't qualify, then it will probably require a chattel mortgage, which are not as favorable.


     Interesting, I never knew about that. Thanks for sharing!

  • Daniel Sharma
  • Loading replies...