Financing Options on Smaller Deal


Have MHC under contract in Greenville SC. It’s $600k and I’m having a hard time finding financing for a smaller deal. Looking for suggestions or options.

26 lots with 26 POHs
23 occupied/ rented
Ave Rent $550
City SWT - park pays


Couple o’ questions.

What have you tried?
What are the lot rents - without the POHs?

Let’s make sure the value will support the financing.



Most larger banks are out bc of POHs and so is agency.
I’m trying some brokers but it’s mostly misses.

I haven’t tried any local banks yet.

Lot rent is $300/mo.


Try David Harley at Bluepoint, he specializes in MH.
Not sure if he works in SC 415-888-3458

Paul Sofia - Commercial Capital Resources

If you haven’t tried them, give them a buzz.


Actually working with Paul, he’s great. Just seeing if I’m missing other strategies or investors.


Have you brought this fact to the attention of the seller?
He may realize that he will have to finance this park if he wants out.

Seller financing and/or master-lease/option may be the way to go.

Any thoughts?




Thanks for suggestions. Owner financing is out and we will renegotiate with Seller pointing out some of these issues. I’m just trying to ensure I’m looking at all options so I’m ready to close when the time comes.


My experience is that only local or regional banks would consider a deal of this size. It’s too small for brokers. An approach is to find any banks with branches in the immediate area, then research each one. Avoid those that are national banks because they will likely not touch your deal. A local bank with a handful of branches would understand the local market well, and they sometimes lump the value of the POH into the same loan. Also many banks require you to have a checking account for direct debit loan payment. You could use that account for your manager to deposit rent. An account 25 miles away is very inconvenient for rent collection. Be sure to contact as many as needed. They sometimes reject deals for different reasons that are not universal between all banks. When you call the commercial loan officer, you may want to ask if they have financed MHPs to gauge their expertise.


Similar to mPark’s answer, I would suggest local credit unions. Out here on the West Coast, they are being very aggressive.


I agree johndough. I have a credit union commercial loan officer near one of my parks, and he calls every 2 weeks asking when he can finance a mobile home park.


I’ll dig into some local CUs. Thanks.


I might be able to help out. Shoot me an email.


I work with several lenders throughout the country that can finance deals where others can’t. Jddorsey - Is the park $600K or is that the loan you’re seeking?