Mobile Home Park
Memphis, TN - MSA

In June 2018, the Keel Team and investment partners purchased a 61 lot mobile home park outside of Memphis, TN.

1.6

Original Acquisition Price
June 14, 2018

361.25

Equity
Initial Cash Investment

60

Capital Call
On Month 13 Of Ownership

Improvement
Summary

Through improvement initiatives such as: filling vacant pads, bringing in new homes, removing run down homes, converting utility payment from park paid to tenant paid, 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 debt for both partners.

Payout

Cash flow distribution

The total cash flow distribution was $66,229.24.

Capital

Cash out refinancing event

On April 24th, 2020 the first refinancing event occurred.

845

Refinancing
Event

Investor Distributions

Investors received $845,564.76 from the refinancing event.

Preferred Distributions
Paid Monthly

66.2

Total
Payout

Preferred Distributions

The partnership received $66,229.24 from the preferred distributions. The new debt is non-recourse. Fannie Mae, 3 years of interest only, 30 year amortization, 3.73% interest rate, 10 year term, 75% loan to value.

Capital
Summary

Timeframe

ROI

*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 MHP.

Savings

Forced savings of approximately $443,750 due to the equity remaining in the property after the April 2020 refinancing event.

*Based on refinance appraisal values.

Appreciation

Additional potential equity appreciation as the MHP 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.

Keel Team provides unique opportunities for passive investors to enter the mobile home park asset class without having to deal with the headaches of tenants, toilets or trash.

DISCLAIMER:

Contacting us does not entitle you to purchase, or to participate in any current or future offering of, securities by us and/or our affiliates. We are not offering to sell you securities by providing you with an opportunity to contact us. All of our and our affiliates’ securities offerings are done through private placements, and participation in those offerings is restricted to persons with whom we have a prior, established business relationship and who meet applicable investor standards.

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