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 Mobile Home Parks by Tom Markel


A mobile home park is more than just a big parking lot for mobile homes and small prefabs. It's a residential community, and that means you have expenses and responsibilities if you're the owner. You always have some work to do before you pass papers or even apply for a commercial mortgage on a property in this category. Foremost among the tasks you'll want to complete is an analysis of the need for such a facility. Is the area you're placing your mobile home park accessible to employment opportunities, vacation spots, or public transportation? Mobile home parks can be year round or seasonal. Have you thought about which you'd prefer?
 
Prepare for a purchase of a mobile home park by drawing up a business plan and answering the questions above. Add to those the issue of permits and licenses, insurance, and the possibility of assistance from state and federal government to offer low income families subsidized opportunities to move into your complex. Evidence of that kind of funding is as close as it gets to a guarantee of commercial mortgage approval from banks and lenders. You'll also want to make a list of your projected overhead, including your mortgage payment.
 
Where will you find tenants for your mobile home park? Are you buying units yourself and renting them out or are you planning on just leasing the space to short and long term tenants with their owner campers and mobile homes? Will you be offering space nightly, weekly, monthly, or all of the above? Will you require a long-term lease and up front security when you do lease? These may seem like questions for after you open, but the bank will want to know what your plan of action is. Its part of the formula they use to determine your ability to pay them back.
 
Once you've answered all the pertinent questions in your business plan, fill out our iBank commercial mortgage application and let us take it from there. Our objective will be to shop your request to as many lenders as possible. We have one of the largest lists of banks and mortgage brokers on the internet. We also have a list of private investors who are looking for new opportunities if you need a partner or two. You should be hearing from them soon after you submit your application, along with a number of more traditional lenders and banks. 


Most Recent Postings

Type Amount Location Date Posted
Mobile Home Parks $410000 Aiken,
SC
July 1, 2014
12:20 PM
Mobile Home Parks $650000 Carmel,
NY
June 20, 2014
4:05 PM
Mobile Home Parks $2000000 Greenville ,
SC
June 6, 2014
2:20 PM
Mobile Home Parks $45000 johnsonville,
SC
June 2, 2014
4:36 PM
Mobile Home Parks $45000 Leicester,
NC
May 28, 2014
10:36 AM
Mobile Home Parks $800000 Allentown,
PA
April 7, 2014
1:29 PM
Mobile Home Parks $350000 Hannibal,
MO
March 12, 2014
10:08 AM
Mobile Home Parks $400000 Olivehill,
TN
February 3, 2014
1:12 PM
Mobile Home Parks $750000 Sevierville,
TN
January 28, 2014
9:48 AM
Mobile Home Parks $1000000 fayetteville,
NC
January 22, 2014
3:59 PM

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