Finding Equity Partners for Investments in MHPs / Real Estate

Mobile Home Park Investing
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Finding Equity Partners for Investments in MHPs / Real Estate

John Boutros
Investor · Member since 2021 · 113 posts · 56 votes

Hi BP'ers,

 I am currently in the MHP space and really like this asset class. I am looking to acquire 1-2 more parks in the next 12 months. 

I am looking for ideas/suggestions/recommendations on finding partners for future deals in the MHP space to help with acquisition for future deals. 

Appreciate any insight or experiences you have found helpful! Thank you!

-John
 

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Mario Dattilo
Investor · Naples, FL · Member since 2009 · 167 posts · 165 votes
3y

Be sure to partner with someone that has different skills than you. Make sure they have integrity and their core values line up. Make sure they can add value and have a good track record. 

Passive Investors are a whole different game if they are not active in the deal and only contributing capital and I recommend you consult a securities attorney for the legals on that. 

My BP profile has several resources for mobile home park investors and those sources have a lot of content around partnerships and raising money.  

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  • Mario Dattilo
    Investor · Naples, FL · Member since 2009 · 167 posts · 165 votes
    3y

    Be sure to partner with someone that has different skills than you. Make sure they have integrity and their core values line up. Make sure they can add value and have a good track record. 

    Passive Investors are a whole different game if they are not active in the deal and only contributing capital and I recommend you consult a securities attorney for the legals on that. 

    My BP profile has several resources for mobile home park investors and those sources have a lot of content around partnerships and raising money.  

    2Reply
  • John Boutros
    OP
    Investor · Member since 2021 · 113 posts · 56 votes
    3y
    Quote from @Mario Dattilo:

    Be sure to partner with someone that has different skills than you. Make sure they have integrity and their core values line up. Make sure they can add value and have a good track record. 

    Passive Investors are a whole different game if they are not active in the deal and only contributing capital and I recommend you consult a securities attorney for the legals on that. 

    My BP profile has several resources for mobile home park investors and those sources have a lot of content around partnerships and raising money.  


     Hi Mario. Thanks for the response! 

    I've completed my first investment this way actually, so I am pretty familiar. I am looking to expand my reach with other partners as well to acquire more parks at a faster rate. 

    I also requested to join your FB group, thank you!

    -John

    1Reply
  • Perry Rohan
    Real Estate Broker · Delray Beach, FL · Member since 2022 · 27 posts · 11 votes
    3y

    Hi John 

    Perhaps you might consider partnering with a property management professional who would also serve as local management and operations . 
    where are you considering a purchase?

    Thanks

    Perry 

    0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    3y

    You'll need to put together a proposal that shows your history of success and what you will be offering these investors.

    [email protected]248-209-6824
    Logical Property Management4.9460 Reviews
    WebsiteView Page
    2Reply
  • John Boutros
    OP
    Investor · Member since 2021 · 113 posts · 56 votes
    3y
    Quote from @Perry Rohan:

    Hi John 

    Perhaps you might consider partnering with a property management professional who would also serve as local management and operations . 
    where are you considering a purchase?

    Thanks

    Perry 


     Not a bad idea Perry. Im targeting a few different states. Built a solid database of off-market owner of those assets. Are you looking to jump into the space? Thanks.

    John

    0Reply
  • Kelly Cook
    Member since 2023 · 9 posts · 2 votes
    3y

    Hi there- fellow MHP owner myself. Are you looking for a partner who has contacts & you have the lending or ? 

    I'm looking to partner on larger value add MHP's but my skills are on the lending, analysis and structure side. Finding the off market deals that have actual value add & management to put in place & day to day stuff is the hard part. Let me know. 

    0Reply
  • Perry Rohan
    Real Estate Broker · Delray Beach, FL · Member since 2022 · 27 posts · 11 votes
    3y

    Hi John,

    Yes, I am interested in Mobil parks. Many of these communities are governed by HOAs which makes it a perfect fit for me as a licensed community manager. I prefer to stay in Florida and I am about to have the ability to find off-market purchase opportunities. 
    look forward to talking further

    Perry

    0Reply
  • John Boutros
    OP
    Investor · Member since 2021 · 113 posts · 56 votes
    3y
    Quote from @Perry Rohan:

    Hi John,

    Yes, I am interested in Mobil parks. Many of these communities are governed by HOAs which makes it a perfect fit for me as a licensed community manager. I prefer to stay in Florida and I am about to have the ability to find off-market purchase opportunities. 
    look forward to talking further

    Perry


     Hi Perry,

    Thanks for the message. Thats great that you have the ability to find off-market purchase opportunities. Im finding that Florida, California have super low compressed 2-4% CAP rates (at least for on-market deals). I try to shoot for the 8-12% CAP rate range, depending on size/number of pads & cash flow. Are you looking to potentially acquire an MHP? Thanks.

    -John

    0Reply
  • Perry Rohan
    Real Estate Broker · Delray Beach, FL · Member since 2022 · 27 posts · 11 votes
    3y

    Hi John

    Yes I would be interested in being part of the acquisition team as well as the property manager function. I have managed a manufactured home community before. 

    I am going to start looking around. We should continue talking 

    Thanks

    Perry

    0Reply
  • Ryan Blankenship
    Real Estate Agent · Lancaster, OH · Member since 2022 · 15 posts · 25 votes
    3y

    This has been a great thread. I'm currently an STR owner and looking to branch out into campgrounds and RV parks. There's currently a 170 site campground with several cabins, a pool, and a general store for sale near a popular state park. There is a lot of value add opportunity and I'm local to the area. I would love to find a way to make this deal happen.

    0Reply
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