Posted by Michael Morrongiello on May 18, 2000 at 21:56:04:
You are on the right track, mobile home parks that are smaller mom & pop type facilities are notoriously hard to finance through traditional lenders. Structuring an owner finance 1st lien or a 1st lien and a 2nd lien where the 1st lien can be sold to get the seller a significant amount of cash is the way to go.
I have a specific questionaire that I use to evaluate the quality of the park (this determines if its a two star, 3 star, 4 star, etc.) & facility. Once this is determined, the structure of the note(s)can be accomplised.
To your success,