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Updated almost 10 years ago on . Most recent reply

User Stats

27
Posts
5
Votes
Erica Sherwood
  • Austin, TX
5
Votes |
27
Posts

Limted Partnership

Erica Sherwood
  • Austin, TX
Posted
I have the contract on a MH Park. I was approached by an investor who wants to form an entity with me. Limited Partnership. He is bringing lender and money to the table both of which I do not have. How do I do this deal where I'm still in control and don't get taken advantage of? This is my first Park and have been struggling with trying to get a plan together to get financing. I'm still in feasibility period. My financials are okay but probably not enough to get this large of an amount. Where do I start?

Most Popular Reply

User Stats

664
Posts
231
Votes
Bruce May
  • Lender
  • San Diego, CA
231
Votes |
664
Posts
Bruce May
  • Lender
  • San Diego, CA
Replied

@Curt Smith, IMO, that's overkill if it's just @Erica Sherwood and a partner and the fees for the PPM alone in this instance are going to kill her.

Erica, you can do this with just an LLC. If you need help contact my CPA, Nate Busch at BlankenBecler Advisors, Inc. in Ohio. He has other clients that own MHP's and he can help you out for a fraction of the price.

http://www.blankenbecleradvisors.com/

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