Brand New Community Development

[Griffin Schermer]

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $3,636,000
Cash invested: $700,000

This is a brand new 40 home build to rent manufactured housing community. We have completely gutted all homes and old infrastructure. We are bringing in brand new fully drywalled manufactured homes ranging from 3 bed/ 2 bath to 2 bed/ 1 bath. All water, sewer, and electrical infrastructure is being replaced. This community is being built by GS Courtyard Homes, located out of Bedford, IN.

What made you interested in investing in this type of deal?

We specialize in affordable housing in Indiana. Our mission is to provide new and affordable rental homes across Indiana.

How did you find this deal and how did you negotiate it?

This was found off-market through a wholesaler.

How did you finance this deal?

We purchased the land all cash, and financed the rebuild of the community

How did you add value to the deal?

We are completely restoring this community with brand new homes and infrastructure