Model Up to 40 Mobile Home Park Acquisitions and/or Developments Over 16 Years
Originally published: 25/02/2019 07:45
Last version published: 19/03/2021 17:06
Publication number: ELQ-38300-3
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Model Up to 40 Mobile Home Park Acquisitions and/or Developments Over 16 Years

Aggregate financial planning for the acquisition or building of up to 40 mobile home parks on the same timeline.

Description
Use all 40 slots or just a single one depending on your needs. This is also great for multi-family real estate modeling. Logic exists for joint venture structures if applicable.

The template is fully editable and you can adjust for any length of time the model runs to for up to 16 years. There is dynamic inputs for each MHP regarding acquisition price / construction / renovations. Global assumptions define initial debt financing and ReFi on each individual acquisition/build out. It is optional to apply a refinance structure and debt. The inputs are variable for the interest only period, and the year a refinance happens after the initial loan, if there is an initial loan.

Revenue and expense assumptions have been built that are specific for what happens within a mobile home park scenario. This could also very easily be applied to a general multi-family acquisition/construction project.

For revenue, each MHP has its own assumptions regarding max unit count, weighted average lot rent, lot rent growth in year 2-4, rent growth in year 5+, initial occupancy, occupancy improvement, and stabilized occupancy.

Expenses are defined annually for each of the 40 slots and include an annual growth rate.

There is a monthly and annual P&L summary that shows the results of up to 40 new mobile home parks and there resulting debt structures across the 16 year timeline.

The exit month and exit cap rate will apply to all existing parks on the exit month. All values stop after that month.

A visual has been included to show various cash distribution scenarios / IRR / equity multiples.

One unique part about this model is that there are up to 3 cash flow waterfalls that the user can see at one time. They are:

1. IRR hurdle based
2. Preferred Equity (hard)
3. Preferred Return

The cash flow waterfalls all populate based on the overall project level equity requirements and distributions therein. This is a function of all assumptions and debt/equity per park as well as any refi/exit assumptions that are used.

The model comes in a lite version as well with up to 5 slots instead of 40.

This Best Practice includes
2 Excel templates and 1 tutorial video

Acquire business license for $170.00

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Further information

Plan out the financial details of a mobile home park / trailer park.

Specifically for a mobile home park financial forecast.

Non real estate business models.

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