I am thinking about attending the Dallas, TX bootcamp in November. The only funds I have to invest are in a IRA account that would have to be moved to a SD IRA which is not a problem. My question/concern after reading the forum on this topic is that I currently don’t have any FF’s. I’m doing this on my own. Are there other mhp investors that realistically would want to partner w me to help me get started in this business? I’m a single dad w a young child trying to secure a better future. I have been to several other sites recommended here:jack shea, Tim kuhman and dyches Simmons. A lot of options, not sure which way to go. Any suggestions or insight would be much appreciated.
I will be attending the bootcamp in Dallas also. I currently own a mobile home park and have worked with family members using IRA money to purchase homes to bring into the park. If you’d like to chat, feel free to shoot me an email: Robbie.Mosher@gmail.com
You can also use your SDIRA to invest with folks who buy mobile home parks. The fund I invest with pays a 10% preferred dividend and splits all profit over 10% 50-50. Also when the parks are sold off,the profits are split 50-50. Pretty good alternative to not buying a park by yourself.
you are on the right path. I like David’d idea above - partner YOUR funds with an experienced park owner — then buy a park on your own (NOT your IRA funds) as you learn all the tips and tricks of the experienced park owner.