I am an experienced operator raising equity to acquire a mobile home park in California. This is an interesting in-fill play with decent upside, which is rare in my state. My underwriting projects 20% IRR in first 5 years with most of investment being returned by then through cash-out refinance. The area has a very high demand of affordable housing and not much competition. The park has been re-built and utilities are in good shape. If interested, please private-message me your contact information.
How is the deal going?
Hello,
What type of investing structure are you offering? Straight debt? Straight equity (pship? C or S stock?) or something in between like convertible debt?
The project is moving along. We are still in the initial stages. We are starting to market homes and RV lots. In terms of deal structure, we provided pref return and 50/50 equity split.
Hey Jae - Which CA market is this deal in? I’d love to discuss further with you