Just finished up virtual bootcamp and am currently in a state of information overdrive (and loving every second of it). My business partner and I have created an LLC as a partnership in preparation for stepping out on our MHP adventure, but I have a question for those with some more experience about corporate structure.
Frank supplied us with two examples of structures that are viable to run a MHP business. Basically there is an LLC “umbrella” or holding company and then separate LLCs for each park, a management company, and home sales company.
My question is: Can profits/capital flow from the “umbrella” LLC in and out of the Park LLC and management company freely or will that open up the companies to liability. If the management company is separate, it is my understanding that it will basically operate as a loss since we would only be paying out a manager without a specific income in that particular entity.
If anyone has experience or could assist in helping me understanding the overall structure that would be greatly appreciated. Thank you!