Details - Information last confirmed on February 18, 2021

The park contains 11 spaces with utilities and 300' of chain link fence bordering the back of the property. I currently have two tenant owned homes paying $150/month which have been approved by our finance company to finance the purchase of their lots and home for a total of $15,000 each which I am completing their applications now and expect to close in 45 days I have two other homes that I own and am rehabbing which I estimate lot and home for one to sell for $30,000 and another for $40,000 so my total projected revenue from Sale of homes on existing lots will be $100,000 less estimated rehab costs of $10,000 for rehab which has been approved by the Mayor for a net of $90,000.

In addition I have 7 remaining lots that the City of Cowarts has approved for me to put RVs on. If I choose to rent those lots to customers to bring their own units I can get appx $250-300/month. However if I purchase 7 units at an estimated cost of $7500/each or $52,500 plus estimated rehab of $1000/unit for $60,000 for home purchases my gross rental income will be $450-$500/ month or appx $475 x 7+ or $50,000 plus $90,000 above or $140,000 less the $60,000 to purchase and rehab the units expenses or a projected net Cap rate of appx $80,000 for YE 2021 of $80,000 divided by $150,000 of appx 50%.

If I rent the 7 extra spaces to owners at $250-$300 per month with no outlay for unit purchases gross income would be $1925/mo x 10+ months or $23,100 for the year for an estimated cash on cash return of $23,000 plus $90,000 for lot and home sales would be $113,000 divided by $150,000 or 75% for Y/E 2021 but continuing revenue for Y/E 2022 would be only $23,000 vs $50,000 for 1/1/22 and beyond.

I am also willing to PARTNER in a Joint Venture with an investor that wants me to use my staff and financing sources and rehab/maintenance sources for a cash investment of $75,000 to purchase 1/2 of the business from me plus a loan to the partnership of $60,000 for RV Purchases and Rehab to be repaid at time of sale or from 1/2 of net monthly rental income or sales revenues until paid in full. I can manage everything including park, cleanup, home rehab, collection of rents- financing two tenants there now to purchase their lots so they can own their own lot and home at the same rate they are paying for rent currently.

I am also a mobile home dealer that can provide new or used RVs and mobile homes at wholesale pricing if buyer or partner desires

There are three community colleges in the area with a shortage of housing for students providing high demand for housing in the greater Dothan, Alabama Area

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Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.