Mobile Home Community Financing

[Jasper Lee]

Mobile Home Community Financing

Who has the best loan options for mobile home park loans? I want to start-up a property management business and I found a nice small mobile home park for sale. I would love to buy this community. Can you give me some information on financing this small investment?

Thank
Jasper

[Keith Gossett]

Jasper: I purchased my first park 3.5 years ago and went with a local bank. If its under a $1M you probably will not get non recourse financing with a commercial mortgage. You will need a smaller entreprenurial bank. If its too big for you bring a partner in with you. Good luck.