Ep. 166 | Interview With Scott Macneil on Financing Mobile Home Sales With Pep

Mar 22, 2023

31:28

forum

Ask episode

view_agenda

Chapters

auto_awesome

Transcript

info_circle

Episode notes

In today’s episode, we will be highlighting our guest’s expertise in financing mobile home sales. Our guest is Scott Macneil, the CEO of Performance Equity Partners. He will be providing some background on the mobile home industry and how PEP has been able to help finance these sales.

Scott explains that the mobile home industry is often overlooked, despite being an affordable housing solution for many Americans. He goes on to describe how PEP provides financing solutions that are tailored to the needs of mobile home dealers, allowing them to sell more homes to customers who might not be able to get traditional bank financing.

We then delve into the specific ways in which PEP's financing model works. Scott talks about how they evaluate potential customers and dealers, what types of loans they offer, and how they manage risk. He also discusses some of the challenges they face in the mobile home industry, such as the stigma associated with mobile homes and the lack of data available to lenders.

Tune in for another great episode!

Highlights of the episode:

00:00:36 Guest Introduction: Scott Macneil

00:04:08 Financing a Manufactured Home That’s in a Land Lease Community

00:09:03 Restrictions on Payments

00:11:12 Reestablishing Good Credit

00:14:09 Applying Rules Universally and Across the Board

00:16:38 Certain Rate at Certain States Having an Interest Rate Cap

00:16:57 Other Requirements

00:21:35 Lending Program on the Commercial Side

00:22:47 Loan Term and Prepayment Years or Penalties

00:26:09 Manufactured Housing