MHP financing - Georgia

Hey Everyone! I am new to the site and new to MHP investing. Came across an opportunity in Georgia that looks promising, but I am running into issue with finding lending options that will take on a property like this. The lender we typically use in Texas, does not work in Georgia and wouldn’t look at this property either way.

Property value is a round $300K, 10 lots, 9 park owned homes, 8 of those homes are single wide, and 1 is a double wide with 8 of them currently rented.

Read the article about financing, but finding it difficult to locate lenders that would be willing to take this on. If anyone has any suggestions or recommendations in Georgia I appreciate any help.

Thank you in advance.

On deals this size, you are best to go to every local bank you can find and do a Dog & Pony Show for each in the hopes of getting at least one interested in financing the deal. Outside of that you need to explore seller financing or some of the nontraditional lending avenues

Hey Jim - I have been talking to a few lenders and getting similar responses. Found a couple commercial lenders that would consider financing just the land value, so would look to see if the seller is interested in seller financing the remaining amount. His asking price is based on income potential, but lenders aren’t too willing to jump on that.