Be gentle. It is my first time.
I am an investor with some experience in SFH’s just taking a good long look at MHP’s. I am currently in Nashville.
Since my wife just got a real job I am qualfied for a mortgage large enough to buy a small park. Is it possible to buy an underperforming park, place a home on a foundation, or buy one with an existing stick built and use stock financing to do it?
Another angle I have been considering is to buy comercial property with an existing home and develop a park. I figure the bank would balk when they found out but I could at least control the property long enough to build in some equity and then get better financing due to the lack of any park owned homes.
What say ye?
Any wisdom on these ideas?