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
Investors 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
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.
