Anyone know a cash buyer who might be interested in partnering on this deal? It is a high priced (per occupied pad) infill deal in the Des Moines metro area with high upside (27% IRR assuming no leverage except floor plan line of credit). 3.25m + capex + floor plan LOC for bringing in homes. 98 total lots, amazing location with ~$700 market lot rent. And here is the kicker: the extra land can be sold off for $1-2m. It’s too late for any financing that would require an appraisal. If you know someone who would be interested, let me know and I can provide lots more details. Thanks! markadamtanner@gmail.com 860-422-3819
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How did your deal go in dsm