Limited partnerships to fund park aquisitions - Posted by Nelson

Posted by John Merchant on December 19, 2003 at 13:18:18:

You’re getting into the area of registered securities, which is complex and requires an experienced law firm.

Limited partnerships to fund park aquisitions - Posted by Nelson

Posted by Nelson on December 16, 2003 at 16:11:22:

Greetings All!

I have a general question for the forum regarding public / private funds for MHP investments.

My partner and I have been in RE investing for several years. Have done a good bit of traditional homes and in the last couple years moved into MHs. At first we purchased/sold singles, but last year purchased 2 parks with about 70 units to hold and manage.

We are now at a point we have the parks producing great NI. We have created real estate and property management companies to handle the day-to-day operational aspects and want to feed those companies with a larger pool of units to manage. Our plan calls for finding 1000 units over the next 3 years.

Since we cannot personally fund all of an investment this size, we have studied the strategy taken by some / many to offer shares of a limited partnership to raise money. Much like Uniprop has done in the past.

Does anyone have experience they would share with this type funding model? And are there particular consultants that lend to helping design this type fund that you are aware of? We already have commitments on about 500k, so we know the business model is sound, just looking for more knowledge / background on funding through a limited partnership.

And yes, Lonnie and/or Ernest we would love to have you on our board and would be more than happy to compensate for the help!