Mobile Home Parks In Real Life (MHP_IRL) Finding Debt Partners: Interview with Truist's Steven Gunzenhauser
Aug 1, 2022
Join Steven Gunzenhauser, a commercial relationship banker at Truist with 15 years of experience in real estate lending, as he reveals the secrets to navigating the complex world of financing mobile home parks. He offers tips for new investors on presenting projects to lenders and stresses the importance of building strong banking relationships. Gunzenhauser also discusses how rising interest rates impact the market and how investors can seize opportunities during economic downturns. A valuable listen for anyone seeking funding in real estate!
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Gaining Experience in MHP Investing
- Partner with experienced operators if you lack experience in mobile home park investing.
- Immerse yourself in the industry through management, joint ventures, or other relevant activities.
Early Financing Challenges
- Ryan Norris and his partner initially faced numerous rejections when seeking financing.
- They eventually found a small bank willing to lend but later faced further challenges after a merger.
The Lender's Trifecta
- Lenders like Steven Gunzenhauser face a "trifecta" of sales challenges.
- They must sell themselves to the client, then the deal to the credit department, and finally, the revised terms back to the client.