A success story on a recent flip of a manufactured dwelling (SFR) we financed in Sonora, CA 95370.
This subject (see below for before-and-afetr pics) was acquired as REO for $109,500 by seasoned real estate flippers. We arranged a $117,000 rehab loan. Approximately $26,000 in repairs and cosmetic upgrades were made. Although the subject was not in a very heavily populated area, it was listed at a reasonable price point for its size. The real estate investors were able to complete the project and resale the property (during COVID-19) to the end buyers – who purchased all cash. In our opinion this just illustrates the underlying demand for affordable housing. In six months (COE 04-24-2020) this property was successfully flipped, and the investors realized net proceeds on sale of $46,000.
Need funding for a factory built modular or manufactured home? We provide loan options for the financing of new and pre-owned (used) factory-built homes on land, that are non-owner occupied and built for spec or held for investment purposes.
With over 30 years’ experience in the mortgage lending industry, we are seasoned in Mobile, Modular & Manufactured Home Loan Financing and have structured financing under the following scenarios:
- Spec Purchase
- Buy & Hold
- Construction Financing
- Fix & Flip
- Refinance – Rate & Term or Cash-out
- Financing for triple wide, double wide, single wide homes
- Financing for older units (pre-HUD: built before June 15, 1976)
We are qualified, experienced and understand the specifics of factory-built home lending and can best serve your Manufactured, Modular and Mobile home financing needs.
In today’s competitive real estate finance environment, it takes a depth of knowledge in a variety of areas in order to deliver exceptional value to clients. With the knowledge of our marketplace, our industry and community connections, and our concentration in Modular and Manufactured private money lending, we consistently provide our clients with the funding they need and the attention they demand.
If you’re interested in learning more about modular home loan financing or finding out how we can help make your real estate investment a reality, call our office at 714.838.1474 ext. 102 today.