Looking for financing for MHP 25% LTV


#1

I am trying to purchase a 50 pad MHP. Each pad has it’s own electric and water meter. All are rented. 18 owned by the park. 6 are rentals 12 are owner financed. The balance are pad rental at $150 a month. This is the lowest priced park in the area, I plan on park improvements and raising the rent over the course of 18 months. Monthly income is $12,500. Monthly expenses are about $1000. Sales price is $875,000 and the owner is willing to finance balance at 3% interest. He and I have been talking over the last several months since then he has fallen ill for the 3rd time. Unfortunately it is terminal this time. He has an immediate need for cash to build his wife a house. The 2nd mortgage goes into his estate for his son. From what I understand it is hard to find an investor for an amount under 500K. If you any questions please feel free to ask.

                                              Kenh

#2

Feel free to call, Ken.

Paul J Sofia
Commercial Capital Resources
P- 980-621-7760
F- 704-436-4019
Email: Paul@CommercialCapitalResources.com
Website: www.CommercialCapitalResources.com


#3

Call me at (504) 616-9962. KEN


#4

Shoot me an email with specs. I’ve done several of theres. We can move quick on it.

Steven.Segal@icic-usa.com


#5

Hi Ken,

Curious, were you able to buy this park?


#6

My investor is taking longer than anticipated. We did a dry closing and all I need now is the funding. You can reach me at 504-616-9962. KEN. I will have title insurance on the 1st mortgage. I am open to hard money.


#7

Kenh,

Please contact me. We may be able to help you close this.
Mike Weiss
928 533-6195