Mobile Home Park
Warsaw, IN
In February 2021, the Keel Team and investment partners purchased a 54 lot mobile home park in the Warsaw, IN MSA for $1,442.000.
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, repairing off-street parking pads, renovating a single family house, 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 August 2021, the first cash flow distribution was $23,231.33.
Capital
Refinance closing date
On July 26th, 2022 the first refinancing event occurred.
Total
Distributions
Distributions Paid to Investors
The partnership received $892,894.20 in distributions.
Investors Received
Investors received $846,642.87 at the refinance closing.
Monthly Distributions Paid Starting in Month 6
- August 2021: $23,231.33
- November 2021: $11,510.00
- February 2022: $11,510.00
-
July 2022: $846,642.87
(Refinance event proceeds) - Total Preferred Distributions Paid to Investors: $892,894.20
Capital
Summary
- $46,251.33 - Investor distributions
- $846,642.87- Refinance distributions
- $892,894.20 - Total distributions
- $575,000.00 - Initial equity investment
- $317,394.20 - Total return on capital
Timeframe
- 17 Months = Approximately 1.5 Years
ROI
- 36.76% - 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.
