Ben Kadish is the president and founder of Maverick Commercial Mortgage Inc.
and is a mortgage banking professional with more than 37 years of experience.
Kadish’s primary focus is funding commercial mortgages ranging from $1 million
to $40 million for income-producing properties. Reach him at (312) 268-6000,
(312) 953-4344 or firstname.lastname@example.org.
As a commercial mortgage broker, it pays to get creative
and source loans from any type of lender that understands the
emerging significance of the MHC asset class. Vast possibilities
exist in MHC financing, which can be secured for park improvements and new-home inventory, or cash-out refinancing so
owners can achieve liquidity without having to sell the property.
Many MHC financing deals can include a value-add com-
ponent, like new streets, landscaping, sites, amenities, utility
upgrades, rebranding or the installation of new homes. There
have been very few new MHCs developed in the U.S. over
the past 15 years, so the trend is toward upgrading existing
communities with modern amenities and improvements. MHC
owners need to make strategic decisions about how they fill
vacant sites. The options include: acquiring homes and renting
them out, acquiring homes and renting them with a lease-to-own
option, or selling homes to residents with financing.
n n n
New lenders are flocking to fund loans on MHCs because they
realize that many lenders are avoiding this asset class. This dynamic allows these forward-thinking lenders to make loans
that are more profitable than those in the highly competitive
To get a loan financed, borrowers and the brokers working
with them need to be fully prepared with a business plan; a
park-improvement budget; management expertise; local contractors for projects; a creditworthy borrowing history; liquidity
for unforeseen circumstances; and the ability to develop new
inventory, sell and/or finance homes and to market the properties
to quality, creditworthy borrowers. n
As a commercial
mortgage broker, it pays
to get creative and source
loans from any type of
lender that understands the
emerging significance of
the MHC asset class.