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
Investors 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
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.
