After attending the recent boot-camp in Columbus, Ohio, I’ve been trying to find a park to purchase.
Just testing waters locally, I have found a good deal near me on a MHP (10 minutes from my house). It was not advertised.
My only problem now is getting the down payment together. I am thinking of ways to go about this because the people selling the MHP are older (80’s) and do not want to deal with it anymore. This MHP seems to be their main source of income for retirement and they are very concerned about the down payment. They are open to options. But, there is also an existing mortgage on the park.
I’m thinking private investor (partner with someone), forming a partnership with them and slowly buying them out of their share, paying their existing mortgage with a spread and additional payments to them…
Anyone have some creative ways/ideas to get this done?
Thanks in advance!