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. zeppland1982@yahoo.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.
Sfa,
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?
Thank you!
Zepp, TTC- I am awaiting a market analysis of the property I want to sell, should have it by Oct 7th. Once that is done I will have a better idea of the funds I will have available. Properties seem to move fairly fast in my area. I am available to talk most likely next week when I believe I will have more information. however when ever I attempt to email you it goes to the forum administrator. And I am told only to communicate in the forum.
Here is the message I get
"You will need to reply to this directly on the forum. Otherwise, your response comes to the forum admin email.
Thanks,
Brandon Reynolds
President
CREUniversity
MobileHomeUniversity
OBUniversity
RVParkUniversity
SelfStoragesUniversity
(855) 879-2738"
I would like to communicate directly but apparently that is not allowed on this forum. If there is another way to connect please let me know .
Stephen