New Homes - Fleetwood/ Financing GE Capital

Several people have asked me about buying new homes. I have looked at many companies and have found that Fleetwood has a great home and very well priced. Several investors that I know have bought homes from Fleetwood and very happy. Here is the contact information for Fleetwood:

Steve Quick

Business Development Manager

Fleetwood Homes




If you need financing for the new homes, GE Capital is very easy to work with and will provide financing for individual homes or as a package. GE Capital works very closely with Fleetwood to make it easy for the park owner to purchase the new homes:

Mark Maniscalco


Capital Solutions

Commercial Distribution Finance

National Sales Director-MH

21055 E. Mewes Rd.

Queen Creek, AZ 85242-7340

T 480-987-3821

F 513-770-5475

C 480-794-0773


If anybody else has any good sources for new homes or financing please post as well. :slight_smile:



Are you talking about purchasing from Fleetwood directly? If so, would they sell to someone who wants to purchase one every 3-4 months or talking about a MHP owner ordering several units?


In Texas, a RBI license (state license is required to own and operate a MHP). New home dealers or banks that specialize in repossessed homes have to sell to someone that has a RBI license as they have got fined heavily in the past for not doing so.

I have never heard about being required to have an insurance license. If the homes are being financed, the lender will require an insurance policy on the home in case of a fire, etc. to cover themselves (similar to a stick built home).

I checked with another investor yesterday who has bought from Fleetwood and they said the only thing that was required was a RBI license (issued by the state to operate a MHP/buy MH’s). They were never asked for an insurance license. They did tell me that Fleetwood discontinued a really small size home that they were purchasing from them and they are now buying a similar sized home from Champion.

I hope this helps! :slight_smile:



You can buy MH’s on a singular basis or several at a time from Fleetwood, Champion, etc. … it is your choice.


Another manufacturer that we have used in the Southeast is Horton. They make a medium grade 14x68 3BR, 2BA single that is reasonably priced. Fred and I have 10 or so at our park in Albany.

They were also able to help another investor on this forum who has a park in NC.

The only drawback with this company is that they only have one plant and it is located in central Georgia. If your park is more than 500-600 miles away, transportation costs may be an issue.


I have a wholesale source for Fleetwood Homes and happy to talk with anyone as to the sales and services I can provide.


Corey and all,

I would be curious to see a sample deal involving a new home that works for a park owner ( what you paid for the new home and how the park resident was financed). I went to the Louisville Manufactured Home show last year and gathered all kinds of info on manufacturers and financing. I even got my dealers license in Indiana, and there are many sources of homes close by in Indiana. With all that, I’m still hesitant to pull the trigger for a new home deal. Here are my concerns:

  1. If you are going to get the resident approved through Greenpoint or Vanderbilt or similar, they will need a decent credit score, that is approaching 600 or better. So far none of the applicants for my park within this past year would qualify. They also need approx 10% down, which makes it even more difficult. So under this scenario, I would still be sitting on my $26 - $30K home losing sleep over the high carrying costs.

  2. If I decide to take matters into my own hands and try to finance a buyer inhouse (which is what we do with all of our repo sales), then I have to put them on at least a 20 yr am to get an affordable monthly payment. Then my home essentially turns into a rental because we have confirmed what Lonnie preaches - shorter terms lead to higher chance of a final payoff. In the meantime, my brand new home is potentially trashed and has instantly lost market value.

When comparing to the repo approach, where I end with about $15k- $20k into a late 1999s home, and can put someone on a 84 to 96 month lease purchase, it just seems to make more sense and lower risk.

Don’t get me wrong, I would love to be able buy new and have my park look better and not hassle with shopping for used and fixing up. In fact I was ready to go for it after the show last year until my partner (also my wife) convinced me otherwise. I would be anxious to see how it is working for others.

Post Edited (04-14-11 22:22)


Just curious - are you still at the park in North Carolina (or was it So Carolina?), or have you acquired another property? Good job getting to 95% - that is my goal this year on my OK properties.

Bret Yetter