Posted by Tony-VA/NC on July 11, 2003 at 10:47:19:
You mention that the park is in rough shape. What funds do you intend to tap to turn the park around?
If you use your $15k on the downpayment, where will the rehab and reserve money come from?
If the park is cashflowing now, will it cash flow under the new debt load and after expenses and profit to you?
The old adage of “Find a deal and the money will follow” is typically quite true. The reason being is that if you have the above type questions solved and the deal still makes money, lenders will help.
Analyzing this investment is what will determine the type of lenders, if any, that will be interested in such a deal. You have to start there.