Mobile Home Park
Fort Wayne, IN
In May 2020, the Keel Team and investment partners purchased a mobile home park in Fort Wayne, Indiana.
Original Acquisition Price
May 29, 2020
Equity
Initial Cash Investment
Improvement
Summary
Purchased a mobile home park in Fort Wayne, Indiana for $525,000. Through improvement initiatives such as road surface improvements, renovating run down mobile homes, modest lot rent increases, and others – we were able to improve the portfolio’s operations, increase NOI, and achieve a significant value increase. The financial results of these efforts are summarized below:
Debt
Collateral
The new debt is nonrecourse for the General Partners.
Payout
Cash flow distribution
On November 2020, the first cash flow distribution was $19,338.21
Capital
Cash out refinancing event
On January 6, 2023 the first refinancing event occurred.
Total
Distributions
Distributions Paid to Investors
The partnership received $1,109,594.62 in distributions.
7% Preferred Distributions Paid Quarterly, Starting in Month 6:
- November 2020: $19,338.21
- February 2021: $8,575
- May 2021: $9,064.04
- September 2021: $12,522.22
- December 2021: $12,386.10
- March 2022: $12,250
- June 2022: $12,250
- September 2022: $12,930.58
- January 2023: $16,741.64
- Total Preferred Distributions Paid to Investors: $99,316.15
Capital
Summary
- $99,316.15 - Preferred Distributions
- $1,010,278.47- Cash Out Refinancing Distribution
- $1,109,594.62 - Total Distributions
- ($700,000) - Initial Equity Investment
- $409,594.62 - Total return on capital
Timeframe
- 31 months = Approximately 2.61 years
ROI
- 22.42% annualized cash-on-cash ROI for the partnership
*And the LP investors stay in the deal after the refinance for infinite returns.
Future Potential ROI Opportunities
Infinite Returns
Infinite returns since all of the original equity investment has been returned, yet we still own the mobile home park.
Refinance
Additional supplemental loan available 12 months after refi (possible additional future returns per refinance loan terms).
Appreciation
Additional potential equity appreciation as the trailer park continues to increase in value.
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.
