TITLE:
Tin Cup RV Park 15-33% Equity Investment on 50% LTV Asset
CONTROL:
Owner
VALUE:
$2,350,000
LOAN:
$1,250,000
EQUITY:
$1,100,000
TYPE:
Mobile Home/RV
HAVE:
Recapitalizing the project to pay off short-term debt and existing cash injection used for the value add repositioning. 10-20% revenue increase last 3 years. Increased revenue 22% in 2024. NOI projection $170,000-$220,000 from electric bill back meters.
ADDRESS:
1715 Tin Cup Road, Mahomet, Illinois
BENEFITS TO NEW OWNER:
- Cashflow From Operations:
- Equity appreciation:
- Two Full Years of Depreciation Schedule:
GROSS SCHEDULED INCOME:
$370,000 Actual
VACANCY LOSS:
$30,000
GROSS EFFECTIVE INCOME:
$340,000
EXPENSES:
$148,000
NOI:
$192,000
DEBT SERVICE:
$67,000
CASH FLOW:
$125,000
CAP RATE:
8.17%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$941,000
$7,578
7%
03/09/2025
No
LOAN 2
$121,000
$887
2%
03/09/2025
No
BENEFITS SOUGHT:
- Total Raise: $367,000
- Shares Available: 1000
- Price Per Share: $367
- Minimum purchase: $25,000
- Term: 12-36 Months until Refinance
CAN ADD:
- 100% bonus depreciation on tiny homes we are adding the the RV park for Airbnb rentals.
- Single Family 50-60% LTV property
REMARKS:
Upon stabilization, we will refinance into assumable fixed-rate permanent financing in Mar 2025. We expect to obtain a loan that will allow a longer 30-year amortization schedule.
COUNSELOR:
Quentin McNew
Tin Cup RV Park
501 N Neil, Suite 2
Champaign, Illinois, 61820
Phone: 2175524062
Email quentin@mcnewcapital.com
