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on Friday, November 13th, 2009 at 1:11 pm and is filed under land mortgage.
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One Response to “Anyone know of a reputable mortgage company that finances modular home with land as an investment property?”
A mobile/modular home is a fine place to lay your head if that is what you have, but a bad place to put your money. Why are you looking at this as an investment? If you are looking to do a trailer park type deal the best bet would be to purchase a larger piece of land and move in older homes you could pay cash for. But be prepared to spend a good bit on repairs and clean up when you have vacancies.
A better option would be purchasing smaller single family residences or duplex/small apartment buildings to rent. Those would be easier to finance and would still be profitable for you. If you have any other questions or need help finding a Realtor in your area that could help you feel free to email me.
A mobile/modular home is a fine place to lay your head if that is what you have, but a bad place to put your money. Why are you looking at this as an investment? If you are looking to do a trailer park type deal the best bet would be to purchase a larger piece of land and move in older homes you could pay cash for. But be prepared to spend a good bit on repairs and clean up when you have vacancies.
A better option would be purchasing smaller single family residences or duplex/small apartment buildings to rent. Those would be easier to finance and would still be profitable for you. If you have any other questions or need help finding a Realtor in your area that could help you feel free to email me.
Hope this helps,
Josh