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Private Loan or Funding Options

I would like to purchase a mobile home park. and am looking for serious private funding options if anyone can help or make suggestions I would appreciate it.
Details: 23 acres 84 spaces 56 spaces leased. No park owned homes, all income is space/lot rental. Net income $44,000. Total price $375,000. I have fair credit (not perfect) and have $30,000 cash. My background: I grew up in the mobile home business, my family had a mobile home park for 20 years. I have been in business for myself for 15 years (see ny profile).
My question is, can I find a legitimate source of private funding for a mobile home park? I realize the terms wouldn't be as favorable as bank funding but I don't want to miss this deal. How would a typical private funding deal work? Has anyone reading this successfull purchased a business using a private loan? I would appreciate any replies.


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Refrigeration Business

hope for a responce to my post.........

Jul 5, 2009

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