Hi, I have been having a difficult time finding a lender for a park near Atlanta. It is my first park purchase and owners do not want to owner finance. I have spoken with the suggested lenders from the MHU bootcamp, various other local and regional banks and a loan broker. Overall the lenders all said they do not like parks with too many POH’s, one lender mentioned park was class D on top of too many POH’s, and a couple other lenders said they prefer 1 million or larger loan size.
Now I have begun to think I might make more progress on parks that are well above the 1-mil threshold. I am also willing to partner up with others etc. I would love to chat with anyone about ideas or opportunities.
I am a single family guy that is selling off my houses in the Atlanta area. I have remotely managed airline crashpads in Detroit that have housed 100’s of tenants. I am planning on moving overseas next year. Day job is a commercial airline pilot that I am not so enthusiastic about.