I need a partner with cash to help maximize the potential of phase II of my park. $250k gets you a 50% interest in 75 space park. Excellent rental market.
Where is the park located? Is the $250k for infrastructure or homes? Any details would be good so that investors can learn more about the opportunity.
The park is located in Mexia, Texas. This is 1.5 hours south of Dallas, near both Corsicana and Waco.
Phase I is a 79 space park in which we have 45 park owned units and 8 homeowners. We are gradually filling the remaining spaces with rent-to-own and contract for title tenants.
Phase II is the opportunity at hand. There are roads with curbs and it is configured for 75 spaces on 11.8 acres. Our business plan calls for filling the park over a 12-18 month period with homeowners. We buy new homes which we sell and finance with pre-arranged financing under a separate entity.
The $250k is to be used as follows:
$45k for landscaping and water and electric metering
$130k to retire mortgage debt
$75k to support acquisition and setup of homes