I am interested in purchasing manufactured homes (mobile homes) on loans, and create a mobile home park. How do I go about it? Where can I buy the houses at factory prices? What permits, licenses do I need? What kind of loans should I get? What is the minimum down payment required? I want to start with five, then use the profits to purchase more mobile homes. Must be in Ohio for the time being. With more money, I will consider other states. Another option I have thought of is apartment houses from Ritz-Craft. Advices given would be appreciated. Landlords or owners of apartments and rentals only. No people thinking they know what they are talking about, please.

And I do not want to live on the same property among the tenants.

Technorati Tags: apartment houses, apartments, home park, landlords, loans, manufactured homes, minimum down payment, mobile home park, Mobile Homes, money, profits, ritz

I found a buyer for my mobile home, & found a new home supposed to close on the 27th. Well the buyers financing fell through because they want to have the mobile home moved to their land, & the lender will not allow this. The buyer has asked me to help find financing, & so far not soo good. They’re credit score is about 587, & they want to have it moved to their own land, with out having to have it put on slab. I would have moved it then sold it, only I just found out my financing will not allow me to move it frm the mobile home park until it is paid. Did not know this. Because of the lot rent being so high, & the interest rate Im paying is high so no one will lease it. So now I feel Im stuck. Does anyone know anyone who will finance and let it be moved with a low credit score. Or is there a way for me to refinance it at a lower interest rate and rent it out and still purchase my new home???? In order 4 my finance to go through on my house, the mh must be sold or contracted for lease.

Technorati Tags: credit score, home amp, home park, interest rate, mh, mobile home park, slab

My parents own an older mobile home (1972) in California. They owe about ,000 & their interest rate is at about 11%.

They are unable to refinance to a lower rate because the mobile home is an older mobile home & they technically don’t have a mortgage bc it is considered "Personal Property". It is detached from the land & they rent the land in a mobil home park….so they do not own the land.

Is there a certain type of loan they can get to pay off their current loan? They would like to lower their interest rate & monthly payment.

Any advice?

Thanks!

Technorati Tags: home amp, home park, interest rate, mobil home park, mobile home, mortgage, parents, personal property

My mother is retiring and moving into a manufactured home park on the Central Coast in NSW. She hasn’t been able to get a loan from her bank even though I can guarantor her loan using my income. The bank said that because the land is leased and only the house is availabe as security that ther isn’t much we can do. Is there any way for her to buy the home?

Technorati Tags: central coast, guarantor, home park, manufactured home park

I hear that a lot of lenders will not deal in manufactured home loans, so I wondered who I should turn to to get a loan to buy a used manufactured home. It is already in a mobile home park and you are paying lot rent each month for the land it is on. So…what is the best way to do this? Does anyone have any idea who the lenders like this would be in the Tampa, Florida area? I don't care if the lender is local, just want to find a few to compare that deal with such a loan and what kind of down payments would be required and what kind of interest rates are available for people with decent credit.

Technorati Tags: down payments, home park, interest rates, lenders, manufactured home loans, mobile home park, tampa florida area