Quail Run Mobile Home Park in Edwardsville, IL:
$400k initial investment
Initial Recourse debt for both partners.
Acquisition Closed June 30, 2017.
Distribution December 2018:
$783,917.17 @ cash out refi 4/18/19
$65,000 additional distribution from excess cash flow 4/18/19
= $933,917.17 total distributions
-$400k initial capital
= $533,917.17 excess return
21.6 months = 1.8 years
74.15% total cash on cash ROI per year
future ROI opportunities:
+ $112,000 additional earn out loan amount available 12 months after refi (possible additional future return per refi loan)
+ forced savings $520,000 = equity left in the property at refi (25% of appraised value)