We are an operating company
After buying the first community for the Fund in Marion, NC we have had a successful first year of operation. The purchase is a 50 space community with 44 occupied spaces. All home are now "resident owned". There are several cost saving measures that we are implementing which is going to add over 36% to the value of the park instantly and cut net operating expenses in half. We are in the middle of several repair projects we plan to complete this year which are intended to improve the condition and well being in the community.
The financial performance has come in well above projections with Net Operating Income (NOI) coming in at over 62% and cash-from-operations for the year at over 43%. Add to that a nearly $350,000 increase in value, and that is prior to the upcoming 50%+ net decrease in operating expenses which should add an additional $400,000+ to the value of the community. This all means the park vale has nearly doubled in just over a year and other great revenue enhancements and cost optimizations are planned over the next few years.
Join us to find out more of what we re doing to enhance our investors returns.