Posted by John on September 08, 2003 at 21:59:10:
Can you get financing on the repos?
Financing new homes in my park - Posted by Johnny
Posted by Johnny on September 08, 2003 at 06:32:47:
I am expanding the back of my park and need to find financing for about 25 new homes. All the banks I have talked with will not do just the homes. The place I am buying the homes from is a home builder and they do not provide financing. Any ideas?
Re: go to this web address and click on Nationwide - Posted by Greg Meade
Posted by Greg Meade on September 09, 2003 at 18:29:21:
they did a home only d/w for a couple who had a fico of 515. i believe at 80 ltv. I also believe they work in all 50 states. Also try Triad! You don’t say where you are,if in FL drop me an e-mail re repos? This site tell you all the requirements! tim’s mail is makeithappen2003@aol.com Good investing!
MobileHome.com - All you need to know about Mobile and Manufactured Homes
Re: Financing new homes in my park - Posted by Lyal
Posted by Lyal on September 09, 2003 at 07:32:35:
Johnny,
Keep looking for lenders. Focus on the small, local banks that do “portfolio” lending (keep the loans in-house instead of selling them off).
All the best, Lyal
Re: Financing new homes in my park - Posted by Dan - GA
Posted by Dan - GA on September 08, 2003 at 15:03:42:
Johnny:
Look into Repos instead of new. They go for 25-35 cents on the dollar and will bring in almost the same rent as the new ones with way less depreciation.
Dan
Re: Financing new homes in my park - Posted by Bert NH
Posted by Bert NH on September 08, 2003 at 11:49:07:
Where are you located?