Mobile Home Park Investment Opportunity
Hi all!
I sold my investment property last week and am hoping to do a 1031 exchange. I've been looking for a while and haven't been able to find anything that makes sense within my budget, and the amount I'm preapproved for (500k) is less than the amount I sold my property for. I would ideally like to get into self storage or mobile home parks. I found a mobile home park that looks like a great opportunity here in New Hampshire with a decent amount of cash flow and value add potential for a little over 1M. I'm hoping to find someone that would be interested in investing with me on this (I'll share more info privately of course). I don't have any experience with parks but I'm ready to learn, get my hands dirty, and be the boots on the ground if you're not local.
Thanks!
Most Popular Reply
Another thought is to 1031 exchange your way into a limited partner position in a syndication on a large apartment complex - annual returns on your cash typically equate to 16-20% (when you combine the preferred return with a chunk on the back-end in 3-5 years as the property is resold)..... this has to be as a 'tenant-in-common' (TIC) and I know a few syndicators who offer this, also, someone who does other tax-deferred alternatives to 1031's.