My experience with Sunrise Capital (Mobile Home Fund)

63 Replies

I am an accredited investor looking to deploy capital. Recently we had a not-so-pleasant experience with Sunrise Capital. I am sharing my experience as I believe that TIME is the ultimate currency in life. I am simply hoping to prevent folks on BP from having their time wasted.

Three weeks ago, I heard a podcast about Kevin Bupp's Mobile Home Park Fund, by Sunrise Capital Partners. I went to the company website and signed up as a potential investor.

Got an automated welcome email from Sunrise partner, Brian Spear, which asked me to read the fund's PPM and schedule a phone call with him. The PPM was long but very well written. Great job there! 

I spent hours and hours reading through the PPM, doing due diligence, and typed up questions for the scheduled investor call with Brian Spear. Later I got an email confirmation of my upcoming meeting with Brian. I shuffled some of my other meetings around in order to accommodate this call with Brian. However, when the time came, I never received that phone call from Brian, all day, all week!

I thought maybe the fund is full, or maybe Brian simply forgot about it. So I emailed Brian to check. No response. 

I later called Brian's office number. No response. 

Then I texted his cell phone, using the phone numbers displayed in the email Brian sent me. No response. 

At this point, due to all the mixed messages I have received from Sunrise, I started to wonder if they are still in business. I pulled out the latest podcast from Kevin Bupp. They are still advertising for Sunrise Capital in the podcast, and broadcasted a new phone number in that show. I called the new number, spoke to their answering service lady. She informed me that they are still in business and recommended me to schedule another call with Brian Spear. She schedule a call for the next day. Later I got an email confirmation about the upcoming meeting. Again, I moved some of my personal meetings to accommodate the second call with Brian Spear.  Re-read the PPM to refresh my memories. 


Again, he never called, all day, all week!

At this point, I am so fed-up with the lack of professionalism from Sunrise Capital, and fed-up with all the time Sunrise has wasted me. If this is how they are treating a potential investor/customer who will bring them money, I wonder how they are going to treat existing investors who already have their capital tied up with Sunrise.

Hope I am the last one!  

Sunrise Capital, please fix your system!

I was surprised to read your post.  I have been an investor with Sunrise and have not shared your experience.  I have found them to be very responsive to my questions. 

@Sophie Sawyer while I do not know Kevin and Brian personally, I have heard good things about them, so I am surprised to hear of your poor experience as well.  I am passionate about mobile home parks and am quite familiar with the MHP investment space, so feel free to PM me and I will do my best to offer perspective and point you in the right direction.  

Sorry to hear about your challenges...not fun.  I just committed to fund II.  I vet a lot of passive offerings and am particularly active in MHP, SS, and MF.  Feel free to reach out with any questions.

All businesses can hit speed bumps during any growth period.  I applaud Brian for personally reaching out to respond to the situation and make sure things are addressed going forward.  Would love to have you or Kevin come speak to our investor group.

Hi @Brian Spear, I seem to be having the same problem as @Sophie?  I made a reservation for 2 PM today for you to call me, but never got a call.  I also sent you a reminder email and tried calling your phone # (and left a message). I have many questions so will someone be reaching out to me soon?

Had a call scheduled with Sunrise today and Brian called right on time. He answered all my questions and followed up with an email further addressing my questions. Thanks Brian.

Originally posted by @Account Closed :

Brian was great on the phone call and with his follow up. First class.

 I can attest to that. I am all "invested out" I believe, got into many projects over the last couple of months. I would invest in Sunrise Capital, but I didn't get the impression that they would accept $50K as an initial investment, which I always like to do to try out a new firm (for me) and to diversify geography and risk.

Sophine,

I am a resident in the Akron Mobile Home Park, Akron NY and a board member on the Akron MHP tenants association. We have repeatedly ask to speak to Mr. Bupp but have not hear one word or email form him. SCI has also repeatedly said they are there for the residents and want the best for them. We have found that SCI wants nothing to do with us and only responds to us (our tenants and tenants association) through the hired management company M. Shapiro and their local attorney Sean MacKenize. When SCI first took over our park went right down hill. Snow plowing was terrible, when spring arrived the common area grass mowing was terrible as well. We have had all kinds of issue with the water meter reading too, and getting lot rent invoices in a timely manor. We have done extensive research on both SCI and M. Shapiro and you would think they would know how to run a mobile home park correctly. We have had nothing but problems here showing us they do not care about anything except to jack up lot rents to make a quick buck. We are not against them making money just not the way they are doing it by charging high lot rent to fixed income, low income and elderly in our park that have had affordable housing for years with the old "mom / pop" owner.

Shawn Sheedy - AMHPTA

Sunrise Capital Investors are cowards and refuse to speak to us tenants face to face  at the Akron mobile home park. They says they are such a great company and are looking out for all the mobile home tenants of the parks they own but to contact them and have them respond back, they never have. They go through a management company, M. Shapiro out of Michigan. We are in a fight over jacked up lot rents that are going to make most of the mobile home park move out as they are either low income / fixed income tenants or are elderly and just cannot afford these high rents. There is no other local affordable housing in the area. These people are living comfortable where they are now but not for long with SCI's practices to just make a quick buck. They spell this out very clearly in Kevin Bupp's pod casts. I have found things on the internet they make Kevin Bupp out as a great humanitarian and family man. If he is these thing you'd think he would take the time to speak to us directly and not hide. Very poor company in my opinion.

Originally posted by @Account Closed :

Sunrise Capital Investors are cowards and refuse to speak to us tenants face to face  at the Akron mobile home park. They says they are such a great company and are looking out for all the mobile home tenants of the parks they own but to contact them and have them respond back, they never have. They go through a management company, M. Shapiro out of Michigan. We are in a fight over jacked up lot rents that are going to make most of the mobile home park move out as they are either low income / fixed income tenants or are elderly and just cannot afford these high rents. There is no other local affordable housing in the area. These people are living comfortable where they are now but not for long with SCI's practices to just make a quick buck. They spell this out very clearly in Kevin Bupp's pod casts. I have found things on the internet they make Kevin Bupp out as a great humanitarian and family man. If he is these thing you'd think he would take the time to speak to us directly and not hide. Very poor company in my opinion.

Someone can try tagging @Brian Spear if he wants to comment on this.

I would love to speak to Brian Spears. We were in Florida to either speak to Kevin Bupp, Joanna Bupp, Brian Spears, or Charles DeHart but we got nowhere. Supposedly Brian Spears was at his residence in Florida, when we knocked on his door nicely, but he would not answer. We (the AMHPTA) know this as we got a "cease and desist" order in which it stated we banged on the door and tried to push our way into his apartment when he answered. This is all total BS all made up. This is how they are cowards. He never answered his door. We taped an invitation letter to his door to give to SCI's Kevin Bupp.

Brian Spears’ account still looks open to me.  He did respond to someone whose account was closed and their original post removed so it does sort of look like he is talking to himself.

@Account Closed

If there are maintenance concerns that's an entirely different issue. Address them with the management company. 

Nothing is forcing you to stay in that park. If the rents and upkeep are really as unreasonable as you claim there should be other cheaper and better solutions nearby. 

We are working with a group MH Action and HCR of NYS to get laws in place in NYS so that greedy corporate MHP owners cannot drastically raise the lot rents in MHP's. There are bills going through now and we are pushing law makers to support, back, and pass these laws. There is also a law going through to give MHP residents (that have a MHPTA) the first right of refusal. We are woking to by the park back so that our residents can stay in their home and not have to worry about having to go to a retirement or old folks home.

All of you that disagree go dig in someone else's pockets. There is a humanitarian way to make money.