All Forum Posts by: Kirk Bausch

I did post something like this on another forum but didn't get much traction, therefore, i'll try here:)  I'm establishing a Private Fund (not a syndication) to raise capital to purchase multifamily investment properties.  My investor profile will be Accredited only.  Funds target $3M and less than 30 investors.    I'm setting up the paperwork now and have just been informed that I need a registered RIA (Registered Investment Advisor).  Do you have any recommendations?  

Also, has anybody set up a Fund with this requirement?  I keep getting conflicting info on it being necessary or not.  But my attorney has shared the Dodd Frank law that states we need one: "private funds now have to comply with the exemption in Section 3(c)(1) under the Dodd-Frank Act"

Any help, feedback or recommendations are welcomed.

thanks

thank you @Paul Allen , this is very helpful. 

Hi Forum.

I'm in the midst of forming a private fund Syndication to acquire commercial, multifamily properties.  My attorney informed me that I need the following...does anybody have recommendations and what are the typical cost/fees associated with this? 

*An RIA must be licensed with the State Securities Division, or in the case of California the Department of Business Oversight, which is in the state where your home office is located. An RIA need not be registered with the SEC if the total assets under management from all sources is less than $25,000,000. You want to search for private fund registered investment advisors.*

Much appreciated

Kirk Bausch

We have an automated system using some coding applications (self made) to generate leads from various sites, coupled with help from some VA's.

Once the data / lead list is created on a spreadsheet/google sheets, we pull into Freshsales as our CRM.  We connect Freshsales with a 3rd party connector, Zapier, to interact with google sheets for updating back and forth.

Freshsales allows you to manage your leads and create campaigns to manage.  That's the tip of the iceburg....hope it helps.

Hi Paul.

I was faced with the same Q about 8 months ago.  I took the leap into MHP ACADEMY (kevin & charles).  A met a few people in the course that went through the University and they all said they are getting better, more current info with the Academy. For me, price was a concern too...but, I can say it's money well spent.  I have a few deals in the works now and many more to come.  I'd recommend the Academy. 

HI there. I have a Mobile Home Park under contract in Virginia. The area is somewhat rural but only 30 miles away from Petersburg, VA. Quick details: 36 lots, 22 park owned homes. Full occupancy. I'm seeking financing on the purchase - roughly $600k. We are looking to close by end of January'18. any suggestions? Much appreciated. kb

I come to a quick eval:

48 x $340 x 12 = $195,840 (lot only) x 40% exp = $117,504/ 13 cap $904k

add in the shell value per POH (24 x 3500, 9 x 5000, 5 x 12500)=$171,500 **this is just a quick a dirty look**

4 units multi - $120k

total: $1,195,500

@JOHN DALEY - Jon F has a great website with information to suit your needs. 

https://www.mobilehomeinvesting.net/

if you decide to jump in to parks, i'd be happy to help.  I'm a student of Kevin and Charles and i'm in contract on 1 property now. And, should have another 2 properties locked up short order.  

happy investing.

justin-i sent you a note on yoru sellmyhouse site. thx

i'd love to look at the deal. send me the details.