My partner and I have an MHP deal under contract and are looking for financing. We are open to various structures for a win-win scenario. Quick details about the park:
Price: $770,000
Location: Pennsylvania, just outside of Harrisburg
Type: 55+ community
of lots: 63
of occupied lots: 33
POH: 16
Lot rent: $330 - at least $100 below market
Utilities: public
Tenants pay: water and electric
Current annual cash flow with rentals is $86,286 but expenses are very high - 67%. There are lots of value add opportunities here in terms of expense reduction, pass-through of sewer, rent raises & infill.
Looking to pay a specific interest rate or do a profit split…open to different structures.
If interested, you can contact us at kelley@spotless-homes.com