Evoke Capital reposted this
Pasha Esfandiary and team at Evoke Capital nearly doubled the value of this mobile home park in just one year. Here's how they did it 👇 🏢 Property details - Purchased May 2022 - Huntsville, AL - 160-lot mobile home park (2 - 3 stars) - 76% occupancy 💸 Finances - Purchase price: $5,425,000 - Capital raised: $2,525,000 - Debt structure: 70% LTV, 4.4% fixed rate, 18 months I/O on 10 year term with 30 year amortization 💼 Business plan - Long term hold and continue to drive value via expense reduction and income growth via strategic rent increases - Infilled homes onto vacant lots - Renovated existing POH inventory to be sale and rent ready: flooring, kitchens, bathrooms, lighting, and plumbing - Increased occupancy to 94% 🍾 Results - Current valuation: ~$9 million - Projected preferred return: 8 - 10% - Projected IRR: 23.3% __________ If you have a deal you'd like to feature here and in our weekly newsletter to over 25,000 investors, leave a comment! #commercialrealestate #realestate #realestateinvesting #investing #investor #investment #mobilehomepark
Well done and congratulations to everyone involved
This is awesome. I have deals I'd like to feature in this space (mhp/rv)
Thanks for sharing Pasha Esfandiary! Any other details you'd like to add?
Alex Segal this was an interesting one!
Amazing!!
Congratulations Pasha!
Small Business Owner, Team Outsider | Campgrounds 🏕️ + Car Care 🚘 | Building a portfolio of exceptional service businesses by attracting and retaining top talent 📈
2mocurious: what cap rate are you using for the current valuation?