I’ve been wanting to get into the mph business for years but haven’t seriously pursued it. Now I’m trying to get my ducks in a row to get started. I was wondering if anyone knows of a back that finances Mhp s in Alabama?
You’ll need to call local banks for any deal of (roughly) $1.5mm purchase price and under. If you are doing a deal larger than that, then you’ll be able to interest large national banks (Citibank and Wells Fargo), and/or tap the CMBS market. Pierce Redmond (email@example.com) will be a good contact for these larger deals.
But if you are looking for smaller deals, then you’ll just have to ‘smile and dial’ local banks, and/or get the seller to finance it.
you can also try http://www.mhclending.com/
Frank mentioned on one of his F&D shows that they can do smaller loans.