I am looking to bring in a few dozen new homes from local manufacturers in Pa to my property. I basically get those homes at their cost from a relationship I have, so I am wedded to a particular manufacturer. Does anyone know a national bank, or a regional Pa bank, that would provide a Term Loan or a Line of Credit so I can bring in those homes and sell them on installment sale contracts? There is a significant spread between payments I’d earn and the anticipated monthly loan payment, which should bode favorably for most banks I would thinkAny advice is appreciated
jkmhp2,1. Don’t forget about Dodd-Frank.2. If you already own the park, don’t go the bank route. Bring in another investor to fund the purchases and share the profits with them.3. See #1.
Maybe try 21st mortgage, or ask the manufacturer to finance the homes.