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Mobile Home Park in the Warsaw, IN MSA

In February 2021, the Keel Team and investment partners purchased a 54 lot mobile home park in the Warsaw, IN MSA for $1,442.000.  Through improvement initiatives such as: filling vacant pads, removing run down homes, filling potholes, repairing off-street parking pads, renovating a single family house, 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: $1,305,500 (February 26, 2021)

 

Equity: $575,500.00 initial cash investment from partners

Debt: Recourse

 

Monthly Distributions Paid, Starting in Month 6:

 

  • August 2021: $23,231.33

  • November 2021: $11,510.00

  • February 2022: $11,510.00

  • July 2022: $846,642.87 (refinance event proceeds)

 

Total Distributions Paid to Investors: $892,894.20
 

Refinance Closing Date:

July 26, 2022

Investors received $846,642.87 at the refinance closing.
 

Summary: 

$46,251.33 Investor Distributions

$846,642.87 Refinance Distributions

$892,894.20 Total Distributions

($575,500.00) Initial Equity Investment

$317,394.20 Total Return on Capital

 

Timeframe:

17 months = 1.5 years

 

ROI:

36.76% annualized cash on cash ROI 

 

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