Does anybody have any lenders in NC for parks? We bought a park a couple years ago for cash and all the homes were there so we’ve fixed them all up and rented them. We’ve got 20 homes rented now and would like to get about 50% debt on it. We’ve noticed a lot of banks are tightening up lending right now because they see a downturn on the horizon. Debt coverage on the park is over 4 and even if they just capped our lot rents and disregarded the homes entirely it would be 1.95 so this really should be a no-brainer. Any help would be appreciated!
Hey Jake
yes we can help with commercial lending for stable mobile homes 500k to 1mn, with 2 yr rent roll and NOI
you can contact me on profile and send inquiry and can catch up tmrw, we do stated income and mostly bridge loans can also be conventional, multiple options - one stop shop
Regards
Sunny