Was recently evaluating a small 23 space park deal and was told that previous buyers had difficulty getting financing because the park had gravel streets. I found that odd, but is that the case?
@ErnestPecunio , as per your post:
- “Was recently evaluating a small 23 space park deal and was told that previous buyers had difficulty getting financing because the park had gravel streets. I found that odd, but is that the case?”
My Husband and I purchased a 65 Space MHP with gravel streets with Bank Financing.
The gravel streets were NOT an issue for the Bank.
Actually, the gravel streets were the least of the issues 
.
We were able to secure Financing Letters from 3 different, local Banks.
If you can find a Bank that is comfortable with MHPs, the gravel streets should not be an issue.
I hit the streets (no pun intended) and talked to lots of Bankers. The Bankers I approached either did nor did not finance MHPs.
Oh…and our MHP was 42% filled at the time of the purchase.
Now, we already owned and operated another MHP…with gravel streets. Thus, that MHP experience helped with the Bank financing.
We wish you the very best!
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Thanks Kristin, that was a huge help!