can’t find financing - Posted by c.c.-fl
Posted by c.c.-fl on August 13, 2003 at 20:17:07:
Need help badly. We have purchased 2 lots that has 5 mobile homes total. lot 1 - 2 acres and has 2 mobile homes, one is rented for $525.00 the other one needs some work. Lot 2 - 3 acres and has 3 mobile homes all rented and generating $1850.00 a month. We have purchased the lots and the mobile homes for $255,000.00. We can’t seem to find financing without putting at least 35% down. The mobile homes are just for income, we really bought the property for the land. We live in area that are growing rapidly and lot 2 can become a commercial property. We are looking to sell lot 2 in 3 to 5 years. Please help.