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mobile home park investing

Mobile Home Community in Southern GA

In August 2020, the Keel Team and investment partners purchased a 109 lot mobile home park in southern Georgia for $1.6 million.  Through improvement initiatives such as: filling vacant pads, removing run down homes, paving roads and 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: $1,600,000 (August 28, 2020)


Equity: $655,000 initial cash investment from partners

Debt: Recourse debt for both general partners


Distributions Paid, Starting in Month 6:


  • February 2021: $43,760.53

  • May 2021: $21,880.24

  • September 2021: $21,880.24

  • December 2021: $23,967.95

  • March 2022: $23,967.95 

  • March 2022 refinance cash out: $2,004,752.73

Cash Out Refinancing Event

Mar 11, 2022


Investors received $2,004,752.73 from the refinancing event.


The new debt is non-recourse, Fannie Mae agency debt.



 $135,456.91 Pro-Rata Distributions

$2,004,752.73 Cash out Refinancing Distribution

$2,140,209.64 Total Distributions

($655,000.00) Initial Equity Investment

$1,485,209.64 Total Return on Capital



19 months = 1.5 years



151.17% annualized cash on cash ROI 


​Future potential ROI opportunities:

  • Infinite returns since all of the original equity investment has been returned, yet we still own the MHP

  • Additional supplemental earn out loan available 12 months after refinance closing

  • Forced savings of approximately $1,811,000 due to the equity remaining in the property after the March 2022 refinancing event

  • Additional potential equity appreciation as the MHP continues to increase in value


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

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