Amazing 43 unit Poconos Deal

[Mike Eichler]

Hey all, wanted to talk about a crazy deal that my team and I are working on in the Poconos. A 43 Unit Resort-Zoned property located in Pocono Pines, Pennsylvania. Putting together this deal has been absolutely incredible, so much is going into getting everything to work out just right, from choosing renovation materials for the smaller cabins to landscaping and adding a communal pickle-ball court and fire pits with tiki torches and string lights with chairs for sitting, I am getting super pumped seeing it all come to life. 

Now with all my rambling out of the way... let's get into the numbers.

The purchase price of this absolute beast is 4.325 million, which includes a variety of stand-alone cabin units, traditional motel row units, a mix of 12 one & two-bedroom apartments in the main house, and one office space. 

The 12 units in the main house are already in great condition as they have been recently renovated by the previous owner, as for the smaller cabins they will need a combined 450,000 worth of facelifting rehab and refurnishing.

After closing costs and all other expenses, the total all-in cost of this project will be 4,892,000 with an After repair value or ARV of just around 5,846,339 which is an added value of 1.27 Million.

The Project is set to be a 15.76 Cap and has current cashflows of over 30,000 per month which we plan to push much higher when we transform most of the units from LTR to STR

I have a podcast episode where I talked about all of these numbers and more in-depth about the project too, we are also still accepting a few more Investors to hop in on this before we close it out feel free to DM me if interested in more info.

Here is the podcast on Spotify: https://open.spotify.com/episo...

and apple music: https://podcasts.apple.com/us/...