Mobile Home Park Expansion 15 to 33 units

[Logan M.]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $230,000
Cash invested: $60,000

The investment opportunity we're presenting involves the purchase of a property for $230,000, with a "buy and hold" strategy in mind. Our focus is on long-term profitability and growth.

Initially, the property consisted of 15 units, and four of them were vacant. However, we seized the opportunity to acquire the neighboring home, expanding the property's capacity to 33 units. This expansion not only increased the number of rental units available but also enhanced the overall value and potential

What made you interested in investing in this type of deal?

The cash flow based upon a 230k purchase price.

How did you find this deal and how did you negotiate it?

It was on the MLS, I was the fourth buyer to put it under contract.

How did you finance this deal?

Local Credit Union

How did you add value to the deal?

Expansion from 15 spaces to 33 spaces.

What was the outcome?

Still in progress but we are bringing in new homes to fill the vacant pads.

Lessons learned? Challenges?

Make sure your numbers are foolproof on the construction loan.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I represented myself as a buyer's agent. I am an expert in negotiating investment deals.