Cash coming available for financing one or more MH park purchases of at least 100 pads.
Experienced owner/operator/dealer available part time consulting on management
I am 70+ years old, retired and do not want to continue with as much active management of real estate. Yet, I want to augment my retirement savings with greater cash flow than the triplex I have owned for 25+ years. Plan is to sell and 1031 exchange net proceeds of the triplex into a MH Park with upside potential.
I have spoken with Frank Rolfe several times and have been educating myself as to Mobile Home Parks as a possible investment for a more passive cash flow situation. So yes, a partner with integrity and experience in the MH park industry. Ideally a partner that wants to be paid for a period of time to help with acquisition, stabilizing a park and putting in place active management of 100 or more TOHs. My time horizon is in the next 12 months.
What is your time frame? We have a number of small parks, have a bigger one (not quite 100, about 90) under contract in same area (eastern TN). City water, city sewer.
My regular banker will not finance and we only have $140,000 in total debt on our parks, approximately 220 lots overall. I even offered to put in a as many parks as needed for collateral. Very frustrated but he back out last minute. email@example.com
Hello Sfa303 - My wife and I purchased our first park in March after attending the MHU Bootcamp in October. We’re learning a lot as we go - happy to help with any questions.
Reached out to you on forum. What is your time frame for investing/financing?
We are experienced mobile home park owners, mostly TN and GA, since 2007.
I am looking at taking down 90-unit in TN, great city where we own a number of other parks.
Have some cash, but this deal requires a niche finance deal due to a number of POH’s and poor management by current company (IMO). Let me know, up or down, if you have interest in speaking?