Mobile Home Parks hard money loans
- Quick Approval and Funding
- Local Mobile Home Parks Hard Money Lenders
- No Upfront Cost or Contracts
- Rates from 8%
Mobile Home Parks Hard Money Loans
If your dream investment is a doublewide trailer park sitting on the end of a country road, we can help you secure the next mobile home park hard money loans that will get you there. Mobile home parks have major advantages as a home: they are cheaper, lower maintenance costs, can be moved from one place to another, and can made in a factory in a manner of weeks. Real estate professionals are taking note as well – mobile home parks are a flexible strategic real estate investment with attractive cap rates in the residential field, compared to lower returns in multifamily investments. Mobile home parks are also a popular hard money investment since the lots are usually large and primed for long-term development thanks to short-term leases in large metro areas with a land shortage.
Securing mobile home parks hard money loans to purchase is an increasingly popular way to secure credit among investors. After the credit bust of 2008 banks started underwriting mobile home parks investments extremely conservatively, applying debt-coverage-ratio as a means to measure the risk factors of an investment. As a result, investors paid more upfront for apartment buildings while others looked at private hard money lenders to get credit. With private financing, you can beat other offers with fast closing times and the confidence knowing you are backed by an equally excited private investor.
Trailer park neighborhoods offer an alternative solution to the housing crisis that currently plagues many communities in the country because they offer a smart alternative to every challenge in the housing market:
- They are inexpensive compared to ground-up construction – often up to 80% cheaper than a comparable home.
- Since they are manufactured in a factory – the time to construct a mobile home is between 1-2 months.
- Low environmental impact – instead of demolition, a mobile home can be moved into a new location.
If you are considering expanding your real estate portfolio, using mobile home park hard money loans could be your foot in the door in an increasingly competitive market. The relatively high cap rate of this investment has attracted new investors into the sector, creating high demand to historically low supply, especially in high density metros, where mobile home parks are more scares.
States Laws - Mobile Home Parks
California – many counties in the state have strict mobile home park rent control, some even with vacancy control (where rent stays the same for subsequent renters).
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