Need Park Quickly!


#1

Hi,

My partner is completing a 1031 and needs to identify a MHP within the next 7 days! We have been looking and I thought maybe someone here might know of something for sale.

Criteria,

Warm area, no snow

Over 50 paces preferred, under 250 in total

Not interested in developing a park

Some owner financing is a must

Actually, we will look at anything at this time. Feel free to email your information to the fax or email below.

We are strong buyers - with lots of prior mobile home park experience.

Please email to or call:

Sandi Shear

727-520-2424

1-800-485-7814 fax

mobilesofamerica@aol.com

I am not a realtor - we will pay realtor fees if you provide information on a park that we purchase.


#2

There are companies that specialize in short term parking of 1031 proceeds. Most larger title companies work with these companies all the time so you might talk to yours.

If you want more information contact me.


#3

The following email and my response might be of general interest to others contemplating a 1031 exchange.

Mark

You indicated you could park 1031 funds on a short term basis? (This was in the mobile home park forum). Is this a way to avoid the 45 day rule? Or it just a convenience (pending the 45 day’s arrival?

Thanks

Larry

Larry

These types of 1031 investments are approved for either short or long term parking of proceeds. The ROI for a longer term is usually not great and their are fees in both directions but are a way around the 45 day rule and the drop dead deadline to complete the exchange. I have used them twice in the past when I had not found an investment or rather the one I had planed on fell through.

I now always name one of them as a back up during the 45-day period as insurance.

Another technique a company I worked for is now using is forming a RE corp with tenants-in-common that has been set up by a lawyer knowledgeable in this area (he had advised two of the larger companies