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Tiny home financing

 
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I'm getting ready to launch a business building tiny homes I've lived in them for 15 years. My question for the group is:
Is there anyway I can get financing to help people get into new homes?
Any input would be greatly appreciated, thank you.
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pollinator
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Hi and welcome to Permies.

If you can front it, you could always accept payment arrangements.  I'd use a very high interest rate and definitely get legal help to set it up if you go that route.

Failing that, I'd look for private lenders and try to build relationships with them.  Find out what works for them and ask for their opinion on what you want to do.  Of course, if your family or friends have enough money to invest in other things, you may be able to interest them, but I'd be worried about risk.

Let us know if you find anything that works.
 
Benjamin Watkins
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Thanks Tim I like the payment option!
 
pollinator
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Micro / crowd sourced / and friends and family funding sites now available.

See www.nationalfamilymortgage.com

As an example.
 
pollinator
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Are they going to be on wheels, and are you going to register the tinyhomes as RVs? This might be more palatable to lenders... whether it is worth the hassle to you I am less sure.
 
Benjamin Watkins
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Dillon Nichols wrote:Are they going to be on wheels, and are you going to register the tinyhomes as RVs? This might be more palatable to lenders... whether it is worth the hassle to you I am less sure.



Yes I plan to put them on wheels. And given the current legal status in most locations for tiny homes.
I'm assuming a lot of people would just like to have them registered as box trailers. I live in the middle of the city in the middle of Utah. lots of people love tiny homes our local governments do not.
 
pollinator
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I have been in business a long time, 40 years.
Benjamin, you need to work out whether you are a banker or a builder, you cannot and should not be both.
 
Benjamin Watkins
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John C Daley wrote:I have been in business a long time, 40 years.
Benjamin, you need to work out whether you are a banker or a builder, you cannot and should not be both.



I don't plan on being both.
I'm looking at bringing in a banker of some kind as a way to get the business off the ground.

After that if that relationship stays I don't see what harm it can bring.
 
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I would go to a portable building place. The ones here have some tiny homes. Act interested and ask them about financing. See who they use.

Or search online tiny homes and do the same. Ask where financing comes from. Easy enuff problem to solve.



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