Trying to purchase a 26.5 acre mini farm in the mountains of Eastern Tennessee. Purchase price is $117,100. Property has a 2480 sqft manufactured home and a 1824 sqft manufactured home as well as a 30'x40' pole barn and chicken coop. County tax appraiser has it valued at $171,400. I had a Letter of Commitment from a bank but they ceased loans of manufactured housing. I have a 130 acre parcel of land 4 miles away with a 45% equity stake that I'd be willing to use towards a Blanket Mortgage. My short term plan for the property is to live in the larger of the two while we build our dream home on the 130 acre parcel and rent it out once we have moved into the new home. I already have lined up a long term tenant for the smaller manufactured home @ $700/month. I also have my VA Certificate of Eligability and this would also qualify for the USDA Section 502 Rural Housing loan IF a lender can be found who finances used manufactured housing. Anyone out there that can pull this off? I can be reached at 1-904-233-9002 or aries333@aol.com. Leads and suggestions welcome even if you can't fund this one!
Kevin
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Kevin, I just emailed you over info regarding funding.
Awaiting on your reply,
Thank you.
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