Mobile Home Park
In July 2020, the Keel Team and investment partners purchased a 90 lot mobile home park in northeast Nebraska for $2 million.
Original Acquisition Price
July 7, 2020
Initial Cash Investment
Through improvement initiatives such as: filling vacant pads, removing run down homes, filling potholes and repairing off-street parking pads, modest lot rent increases, and others, we were able to improve the park operations, increase NOI, and achieve a significant value increase. The financial results of these efforts are summarized below:
Recourse debt for both partners.
Cash flow distribution
On January 2021, the first cash flow distribution was $34,816.98.
Cash out refinancing event
On May 17th, 2022, the first refinancing event occurred.
Investors received $1,610,138.35 from the refinancing event. The new debt is non-recourse, Fannie Mae agency debt.
Distributions Paid Monthly
Future Potential ROI Opportunities
Infinite returns since all of the original equity investment has been returned, yet we still own the MHP.
Additional supplemental loan available 12 months after refi (possible additional future return per refinance loan terms).
Forced savings of approximately $1,825,000 due to the equity remaining in the property after the May 2022 refinancing event (based on the $5,100,000 appraised value from the refinance).
Additional potential equity appreciation as the MHP continues to increase in value.
Interested in learning more?
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LEGAL DISCLOSURE: All investment offerings have a high degree of risk. Results may vary. Past performance is not a guarantee of future success.