I am working towards refinancing several of my parks with agency financing hopefully by the end of this year or early next year. I want to ensure I'm setting myself up for a smooth experience. For those who have financed with agency, what are some things you wish you would have known before going that route? I understand my books needs to be very clean and well kept as well as the physical property. What about others things? - Will they audit all of my leases to make sure I have one signed for each lot? - How much time should I let pass after doing a rent increase before starting the process to ensure the appraisers value the additional revenue? - How to agency lenders look at POHs? Will they need to see copies of all POH titles?

Closed on 120 lots today and closing on 45 lots Friday.

Curious, an all POH parks do banks look at a leases that say lot rent 800 mobile home rent 400. Total $1,200. Then lend accordingly. I know @Michael Pansolini you were tossing this idea at one point. I assume it all depends on how the lender thinks about it. @Michael FitzGerald

Has anyone ever used a DSCR loan to buy a park?

Guys, if you're raising money for a deal that might be a little tight, raise extra. Just had it 7m deal that should have easily came in at 7m instead come in short at 6.775m. While that's not a catastrophe, on a 3 park deal, the first 2 parks value had the deal coming in over 500k short. Appraisers are not keeping up with lot rents, comps and cap rates bc those things are not readily available. Develop relationships with these guys and send them regular updates on lot rent, sales comps etc. Off market is 90% of sales in my state. How do they get that info unless you tell them...all of them.