First-time syndication. · The MHP Pros Mastermind

First-time syndication.

I think I’m close to tying up my first syndication deal. It’s a light value add, a few homes to sell and vacancies to fill. But mainly it’s just increasing under market rents.

It’s an asset in a great area that I’ll want to keep forever, and would like a decent chunk of equity for myself of course. But I’m a little light on cash until I can refi my other park.

My likely investors are accredited friends and family. This is a relatively “safe” deal, but I’m also not a seasoned syndicator/operator. So what’s a good syndication structure to get investors interesting but fair returns, while also keeping a nice piece of the pie for me?

I care more about equity ownership than cash flow at this point. So my inclination would be to go light on fees, if any, but bump up the equity split to a 40/60 GP/LP. Perhaps with a higher pref?

What say you?

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