Mobile Home Park
Southeast Iowa
In December 2018, the Keel Team and investment partners purchased a 115 lot mobile home park in southeast Iowa for $677,000.00.
Original Acquisition Price
December 12, 2018
Equity
Initial Cash Investment
Improvement
Summary
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:
Debt
Collateral
Recourse
Payout
Cash flow distribution
On January 2020, the first cash flow distribution was $89,233.41
Closing
Sale closing date
On June 23, 2022, the sale of the mobile home park was closed for $2,100,000.00.
Total
Distributions
Distributions Paid to Investors
The partnership received $1,705,690.04 in distributions.
Investors Received
$1,616,456.63 at closing.
Monthly Distributions Paid Starting in Month 13
-
January 2020 - June 2022: $89,233.41
(5 monthly payments of $3,566.67)
(18 monthly payments of $3,966.67) - SOLD June 2022 - $1,616,456.63
- Total Preferred Distributions Paid to Investors: $1,705,690.04
Capital
Summary
- $89,233.41 - Investor distributions
- $1,616,456.63 - Sale closing distribution
- $1,705,690.04 - Total distributions
- $595,000.00 - Initial equity investment
- $1,110,690.04 - Total return on capital
Timeframe
- 42 Months = 3.5 Years
ROI
- 53.33% - Annualized cash on cash ROI for the partnership
*And the LP investors stay in the deal after the refinance for infinite returns.
Interested in learning more?
Get in touch with us today to learn more about mobile home park investing!
LEGAL DISCLOSURE: All investment offerings have a high degree of risk. Results may vary. Past performance is not a guarantee of future success.
