Commercial loan advice for mobile home park
I’m looking to build a small Rv/mobile home park in the central Florida area and not sure where to start for applying for a builder loan. I already have the property in mind (5 acres) already talked to the county about zoning and already have bids for most of the site work. I’m just not sure where to start when applying for lending. I already have a good relationship with a few local Credit unions and small banks in my area I just want to know what questions I should be asking. I’ll be looking to barrow $350k with as much as 30% down if needed. I’ll be able to have it zoned for 35 sites with a monthly revenue of 15k when completed. This is a very popular and similar set up to what you already see in this area. Thanks for any advice
[{"id": "ew7jspa", "text": "You could try firstbankonline.com.  I've worked with them on mobile home financing transactions.  Not sure about construction lending for new mobile home parks.  Worth at try.", "replies": [{"id": "ew7liis", "text": "Thanks I\u2019ll check it out", "replies": [], "depth": 2}], "depth": 1}, {"id": "ewhr6l7", "text": "did the county already rezone or do you still need approval? they often give a hard time about new MHPs.  Definitely work on paved roads, city utilities, and don\u2019t have any POHs. That will make it much easier for the next buyer to get a loan. I\u2019m actually a real estate agent &amp; only work with mobile home parks so please reach out w a pm if i can help down the line.", "replies": [], "depth": 1}]