Sub prime lenders for Lonnie Deals - Posted by Dave (WI)
Posted by Dave (WI) on April 07, 2000 at 22:35:35:
Does anyone know of any sub prime lenders who could finance some of my “Lonnie Deal” M.H.'s?
I just purchsed my 10th M.H. and am close to running out of cash, right when I’m getting 2-3 phone calls a week from M.H. sellers.
I talked with the folks at the local American General office and they said that they would lend up to $10,000 to my buyers. They will also let me finance any down payment that may be required. By doing this my buyers could get in with no money down and my risk would be minimal.
I did sell a couple of partial notes, but the idea of writing monthly checks is killing me.
Can anyone suggest any lenders or private parties who could help me finance 20 - 30 year old M.H.'s