Free Land, Creative Financing, and a $185K Profit.
The Background
Tyler came to Rain City Capital through a referral from his business partner, Neil, who already had a relationship with the team. Tyler had built hands-on experience in manufactured housing through years of working alongside Neil, who was a licensed manufactured home dealer. By the time he brought his first independently-operated deal to Rain City, he knew the niche inside and out. He just needed a lender who did too.
The Challenge
Most traditional lenders won’t touch manufactured swaps. The asset class doesn’t fit their guidelines, and deals get passed over regardless of how strong the numbers are. Rain City Capital is one of the only lenders that finances manufactured swaps, and that distinction matters. When a borrower brings a deal that works on its fundamentals, Rain City evaluates the opportunity, not just the asset label.
The Deal
That approach became critical when a strong opportunity surfaced in Concrete, Washington. Tyler identified a 3-bed, 2-bath, 1,279 sq ft property on land he already owned free and clear. The numbers spoke for themselves:
Land (Free & Clear): Valued at $40,000
Home Purchase Price: $84,537.73
Total Project Cost: $165,000
After-Repair Value: $275,000
The renovation scope reflected the reality of a manufactured swap. This wasn’t cosmetic work. Tyler managed full site prep, including gravel installation and driveway work, pulled the necessary permits, and oversaw landscaping and decking to bring the property to a finished, market-ready condition.
The Structure
Because Tyler owned the land free and clear, Rain City structured the loan as a manufactured swap with land collateral, funding the full note amount of $165,000 and a 71.74% LTARV. The structure worked because the deal made sense and the borrower had a clear, executable plan backed by hands-on experience.
The Result
The result exceeded expectations. Tyler completed the project and sold the property for $350,000, generating approximately $185,000 in profit and a 112% return on total project cost. A deal that most lenders would have rejected outright became one of the strongest performers in his portfolio.
Why It Matters
Tyler’s success came from building real expertise in a space others overlooked and partnering with a lender who could see the deal for what it was. When you work with a team that evaluates the full picture and structures financing around the opportunity, you gain the ability to compete where others can't even get to the table.
The right lending partner can transform your business. Connect with our team today to see how Rain City can help you borrow smarter, move faster, and build real and lasting mutual success. We'll review your message and respond within one business day.