EP006: Persistence Pays – Financing Your Mobile Home Park Investment

Mobile Home Park Investors with Jefferson Lilly & Brad Johnson

English - January 21, 2016 11:57 - 21 minutes - 20.3 MB - ★★★★★ - 163 ratings
Investing Business Education passiveincome biggerpockets bradjohnson cashflowinvesting jeffersonlilly mobilehomeparkinvesting privateequityrealestate retire richdadpoordad valueinvesting Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed

Previous Episode: EP005: Initial On-Site and Off-site Diligence on Mobile Home Parks (Part 2)

Next Episode: EP007: Third Party Reports – The Phase 1, The Survey, and The Appraisal

Welcome to episode 6 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today, Jefferson and Brad will share their insights on finding a loan in order to invest in a mobile home park. You actually need to pay for your mobile home park in order to buy it!

Key Takeaways:

[1:12] Debt eligibility varies with the size of the park.

[5:03] Information required by banks & how to show you are a credit-worthy borrower.

[7:21] What can you expect on your first loan?

[8:50] Dealing with state-wide banks.

[11:08] The first question to ask a lender.

[13:54] Jefferson shares an amusing story on his experience with lenders!

[18:13] Lesson learned: persistence pays!

[18:38] What are banks looking for?

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