In December 2018, the Keel Team and investment partners purchased a 115 lot mobile home park in southeast Iowa for $677,000.00.  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:  

 

Original acquisition price: $660,000 (December 12, 2018)

 

Equity: $595,000 initial cash investment from partners

Debt: Recourse

 

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 Distributions Paid to Investors: $1,705,690.04
 

Sale Closing Date:

Jun 23, 2022

 

Sale Price: $2,100,000.00

 

Investors received $1,616,456.63 at closing.

  

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 

 

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Legal Disclosure: All investment offerings have a high degree of risk. Results may vary. Past performance is not a guarantee of future success.