Loan broker referral for smaller park

mobile home university
1

Looking at an 11 unit park - would like to add to my other small park but could use help finding a lender. My bank doesn’t like mhp unfortunately.

If anyone has a broker referral I would be grateful.

Thanks

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I noticed that you said that your bank does not like MHP. If you are serious about this business, you will call more than just one bank. I would call 10 to 15 banks until you find one that’ll take the deal. Every bank has their own criteria. Some say they like MHP some say they don’t. Some will only stay in the county some will do the state some will do the region. Some permit out of state borrowers, and some do not. Some will try their luck on a new park owner and some will not.

Most loan brokers will not go below $1 million.

3 Likes
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Forgot to mention that if you have a loan with a bank now, and they do not like your next deal, there is a problem. Either you are illiquid, they stopped liking you, your first deal is not going well, or there another issue. We have made debt and equity investments in other operators, so if your issue is not fatal and falls within our wheelhouse, we would consider helping you including with a private investment.

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Hey Michael,

How are you? Im a mf investor and looking to move into ownership of mhps in my region.

Im in massachusetts, looking to find parks w few pohs, and mostly tenant owned homes w upside in lot rent, cutting expenses submetering utilties , better mgmt (pref.older mgr tgst lives in the park when possible)

Are you a private lender? Are u accredited or sophisticated lender?

Would you fund a park in mass, ri., ct, maine, nh, or vt.?

Thanks so much,

Have a terrific T.Giving!

Dan Greenberger
Cashflow Properties, LLC
Dan.cpllc@gmail.com
774.286.9161

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I’ve found that some of my local credit unions commercial lending department can help with smaller deals.

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Hey Michael.

That sounds good. I will keep you appraised any good mhp deals i may buy. Is it ok to have your contact info.?

Have a terrific T.giving!

Sincerely,

Dan G.
CPLLC
usapartmentpartners.com
dan.cpllc@gmail.com
774.286.9161