Eden Acres Mobile Home Park

[Shuff Mauldin]

Investment Info:

Other commercial investment investment.

Purchase price: $480,000
Cash invested: $150,000

52 Pad Mobile Home Park

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

rare community with city utilities, paved streets, and mostly pad rentals

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

real estate agent who had a pocket deal

How did you finance this deal?

local bank financing

How did you add value to the deal?

paved streets, kicked out the bad apples, added lighting, security, and enforced park rules before bumping rents

What was the outcome?

phase one of the business plan has been implemented. Phase two includes park rentals which will be lease to own

Lessons learned? Challenges?

affordable housing is hard to find and these assets make sense