All Forum Posts by: Megan Haggerty

Investment Info:

Mobile home buy & hold investment in Liberty.

Purchase price: $450,000
Sale price: $650,000

A 15 unit Public Water and Public Sewer Property just two hours outside of NYC. I love it because of the public water and public sewer- currently converting the Park Owned Homes into Tenant Owned Homes.

Investment Info:

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

77 Units in SC- it's a longer term fixer upper. We're currently in the process of rehabbing the property.

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

Getting out of New York investing! (or diversifying)

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

One of the guys on my team cold called it.

How did you finance this deal?

All the capital was raised. It was purchased all cash

Lessons learned? Challenges?

All age communities can be a headache. lol.

Investment Info:

Mobile home buy & hold investment in Liberty.

A 15 unit Public Water and Public Sewer Property just two hours outside of NYC. I love it because of the public water and public sewer- currently converting the Park Owned Homes into Tenant Owned Homes.

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

I have been flipping and buying mobile home parks for a bit now and this was just a great little deal. Even though it was much smaller than what I'm looking for, the numbers really worked.

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

One of the boys who worked with me found it and I did everything after he brought it to me.

How did you finance this deal?

All ca$h deal

How did you add value to the deal?

Currently adding value- renovating the homes, and looking to see if we can add more units, etc.

What was the outcome?

So far, cash flow is up and we're increasing the profits.

Lessons learned? Challenges?

Challenges is getting people to pay on time!

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

Not with this one.

I've seen companies halting their acquisitions completely- preparing for a second 2008- I've also seen companies and individuals continuing to buy like wildfire- what's everyone's take on the current market condition? 

Thanks @Michael Wallimann !! I'm super excited about it! If you send me ur email, we can connect and I'll send you any deals that don't fit into my criteria- I come across so many deals!   

Thank you Rachel! Can't wait to see this project to it's completion! 

Investment Info:

buy & hold investment in Oneonta.

Purchase price: $1,000,000
Cash invested: $200,000

A 40 Unit Senior Retirement Modular Home Complex that we're expanding into 100+ units.

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

Mobile Home Parks/ Senior Retirement Communities/ Modular Housing Communities are an extremely attractive investment opportunity. Especially in a market where it's so hard to find a deal.

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

We found the deal through our sourcing team- They Negotiated by offering at a 12 cap-

How did you finance this deal?

Private Equity Investors + Bank Financing

How did you add value to the deal?

We're going to be expanding from 40 to a minimum of 119(We think potentially 160)

What was the outcome?

The expansion is not done yet! It's a longer term expansion plan

Lessons learned? Challenges?

Due Diligence Documents shed light on things that owners (intentionally or unintentionally) try to hide - we found out the rent for the lot was a whopping $70 lower than we initially thought. Which is a big deal considering that we're talking about $33,600 of missed income a year. When you have a property that only cash flows so much, that has an impact on your return!