Looking at investing in some dirt with about 30% occupancy.
Seller currently has loan through a local bank.
I’m looking at using an guarantor/partner on the loan.
Looking at using same bank to rewrite the note, since they already have the loan - I’d say the like property.
I recently declared Bk due to too much single family baggage (prior life to mobile home parks).
I’m currently on board of directors of current MHP that I work with so to speak.
Lender wants both business partners financials ect.
Should I A) just have partner send in theirs?
B) Talk to commercial loan person and state my situation and see what best works for them
I’ve got a successful track record with mobile home parks and recently increased gross cash flow by 300% in short period of time on currently project.
C) Other thoughts