44-Pad RV Park (Future Tiny Home Community) 100% SELLER FINANCED!!
Investment Info:
Other buy & hold investment.
Purchase price: $500,000
100% seller financed 25-Pad RV Park, only 5 miles from the beach!
Details:
- 19 occupied spaces, currently grossing ~$6,900/mo
- 9.5 acres with enough septics and wells (and approval from the county) to have a total of 44 pads!
- $500,000 Purchase Price
- $0 Down Payment
- 4% Interest
- 30 Year Amoritzation
- 10 Year Balloon
- Monthly payment: $2,387
Since this deal was so good, with no money down, my acquisitions manager is getting 20% equity in this property.
The plan here is to have a local (RV Certified) tiny home builder do the marketing to attract buyers that want to buy their tiny homes (cash or 25 year financing) and live in this park, until there are 44 pads occupied by tenant-owned tiny homes, paying $750/mo lot rent, on 1 year leases. Based on some rough calculations, once fully stabilized and running (including property management), I predict the tiny home community to cash flow around $20,000/month and be worth roughly $3.5 million!
Now on the hunt for the next "deal of a lifetime!"
