Posted by Tony Colella on July 28, 2005 at 19:45:10:
So often we see posts here about how “no bank will finance a mobile home with land unless …” or that the investor cannot find anyone to finance a land/home package.
I cannot help but believe that these folks have never actually walked in and talked to several lenders face to face. It is too easy to call the bank, get the person in the lobby who has (no authority) and get shot down.
I cannot count the number of times we and others have encouraged investors to get to know the small, local banks. They will lend on these deals. These banks can be creative if you present a good deal to them. There will be times you get a “no” but so what. Move on to the next bank and your in the money.
Thanks for proving that it can be done.
Tony