Mobile Home Financing

[totalnotes]

I agree with what was said about this being a great deal.  One to jump on for sure.  
On another note, there are banks out there who will still loan on MHs in parks even.  They just aren't easy to find.  However while working on one of my new approaches to mobile home investing I found an owner in a park who had a 11% loan from a bank in New York.  I could dig up the info if anyone wants to know.  Might be good details to have.  Not sure of all the details of how it went through but it floored me.
-David

[dshelton]

Hello all, I am just getting started myself.
Question?
I know of 2 mobilehomes
1. could pick up for $3000, 2 bd single needs some repairs, it sets in a park with $289 mo. rent as well as it is right next to a rail road track. Thought either owner financing or L/O.   I was concerned about getting it insured if I treat it as a L/O. What do you think???

2. 1993 doublewide with lot. Appraised for $98K owes 60K with payments of $550.mo renting it now for $800.00
They will sell it for $75K.
I personally do not have any money to work with for a down payment for financing. Looking for something creative.....please help
Thank you

[Mdhaas]

Great info folks!