All Forum Posts by: Grant R.

@Grant R. We were actually writing it into the operating agreement too. Not a separate document at this time.

@Greg O'Brien @Patrick Daniel @Mike S.

Yes, the policy is to protect the company and allow the living partner to buy out the deceased partner by paying their estate/family.

When protecting yourself and your investing partner in a two-member JV (LLC), it's advisable to get life insurance for each partner. Which is the simplest/best solution to implement this?

A) the life insurance is purchased by the company itself, or
B) the individual members purchase policies and naming the company or other partner as a beneficiary?  

Many thanks for your thoughts!

@Andrew Thomas  Thanks for the feedback, sir!  I appreciate it.

@Jeff Wallenius @Jack Martin @Mark Smith

Thank you all so much for your feedback. It's great to hear. I'm looking at a very small park to diversify from my site-built portfolio (Duplexes, SFH). A few of the homes are park-owned. Based on your advice here, and if the deal goes through, I will seek to sell those homes to tenants ASAP. Thanks again!!

@Michael Wagner Thanks for the response - good to hear!

@Kevin Bledsoe

Kevin, thanks so much! Very helpful info, exactly what I needed to know. I appreciate you taking the time!

@Rebecca Jensen

Thanks, Rebecca! I'm working on one SS deal this year, but always interested in knowing more. Will DM to hear your opportunities. Chat soon!

I'm looking for some storage unit owners OR managers today!  How did storage units fair during the Covid pandemic?  Was their any noticeable effect on self-serve storage that you were able to directly attribute to the virus outbreak?  Many thanks in advance for your thoughts!

I've love to hear from mobile home park owners or managers!  On the broader scale in general Midwest markets, how did mobile home parks fair during Covid (LAST 12 MONTHS)?  Were occupancy numbers up/down?  Was rental income steady/better/worse?