Get Trailer Park Financing.

I found out the hard way that getting financing on a trailer park isn't easy.

I put $10,000 down and gave myself 60 days to get financing.

After the tenth bank turned me down, I started to panic.

How I ended up doing it was that, thankfully, I had $100,000 equity in my home. I then put $100,000 down from the refinancing and asked the owner to carry the difference.

I have since paid him off and now own the park free and clear.

What I would recommend is that if you are trying to buy this, you call this guy first to get prequalified.

You will need the following:

1. Current Rent Roll

2. 2006 and 2007 Operating Statements(or schedules from tax returns)

Call or e-mail with any questions.

Thanks,

Steve MurdenStar Capital Corp.

14 E. Campbell Avenue, Ste. 240

Roanoke,VA 24011

(540) 342-6520

(703) 991-0072 - fax

http://www.starcapitalcorporation.com/

Also, here is some more info on the loans.

Mobile Home Park Financing for All Types of Parks

Small Balance MHP's (Park-owned Homes Allowed)
Minimum Loan Amount $100,000
Maximum Loan Amount $2,000,000
75% LTV
No minimum number of pads
No maximum number of "park-owned" homes
Fixed and Adjustable Rates
Up to 30 year amortization