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?
Mentions:
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