Bloomington MHP Success

[Griffin Schermer]

Investment Info:

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

Purchase price: $1,200,000

This is a 100+ pad community located near Downtown Bloomington (Near Indiana University). We negotiated a deal with the owner for 20% Equity, we are responsible for infilling the community as well as property management (which we also get paid separately for). When we found this deal the community had around 45 homes in it, now we are close to 60 total homes and looking to bring that number up to around 80. At which point our evaluation should rise on the community for closer to $4,000,000.00

Lessons learned? Challenges?

We've enjoyed digitizing all payments, streamlining service, as well as infilling new homes. Along with our partnership with GS Courtyard Homes this is a thriving and growing community, located in an amazing market. With hardwork and ceasing opportunities we've managed to be part of this major asset and making it even better.