I’m considering doing a cash out refi on my park to pull equity out to reinvest in another property. What are typical terms of a cash out refi?
How much of a loan amount is needed? If it’s under 1MM, you will be extremely limited. If it is over that amount, different ball game. I need some specifics of what you have to work with,
The park would probably appraise at around $850,000. City utilities, no POHs, no RVs, averages 95% occupancy.
Sounds like a great park but unfortunately it falls below that 1MM mark so you will be limited. If you would like I could send you a MHP questionnaire or we can connect on the phone.