Mobile Home Park Financial Model

This model has had a complete upgrade. It will now function with the option to model between 1 and 40 different Mobile Home Parks (MHPs) on the same timeline, all with their own initial investment assumptions and capital structures. Also, dynamic inputs have been added that show options for initial debt, interest only period, and refi (yes/no). The rental income and expenses have been upgraded for better granularity and more accurate forecasting. The parks can be added over time dynamically.


Pricing

The template will be sent to you after purchase via your PayPal/purchasing e-mail. This purchase includes these 3 waterfall options for cash flow: preferred equity (hard), preferred return, IRR hurdle. This is included in the industry-specific financial model bundle.

This model is designed for the planning out of multiple real estate acquisitions or developments across 16 years of time. They could be MHP or general multi-family units or both. The model is flexible enough with the inputs to account for the way revenues and expenses are generated in each. Each property will be treated separately in terms of the initial loan / refi loan and resulting cash flow requirement therein.

On an individual property by property basis, the user can define the existing NOI (if it is an acquisition) with an entry cap rate for the total acquisition price as well as any construction or renovation costs. If 'debt' is selected as 'yes', then based on defined LTV or loan to cost rates some of the total initial costs will be sourced through debt and some through equity. If no debt is selected, it will all be equity.

The cash flow waterfalls allow for a joint venture structure, but if it is just a single entity providing the equity, then that is fine and that entity can be defined as 100% contribution and distribution. If the equity required gets sourced from an investor pool, then there are 3 different waterfall options to view for how the equity contributions and distributions are split between the investor (LP) and sponsor (GP).

Also defined on a per property basis include:
  • Purchase month
  • Operation start month
  • Weighted average lot rent
  • Initial annual rent growth (year 2-4)
  • Stabilized annual rent growth (year 5+)
  • Max unit count
  • Initial occupancy
  • Occupancy improvement (average per month)
  • Max stabilized occupancy
  • 17 slots for operating expenses
  • Annual expense growth
This is the most dynamic mobile home park or general real estate acquisition/development scaling model I have ever seen or built. The model comes with all slots filled out, but if you only need some of them, just '0' out the row.

The most difficult part of this model was building the profit/loss and debt schedules dynamically for all 40 slots (with the option for a ReFi). 

Lots of visuals exists for the overall project as well as for the cash flow waterfalls. IRR and equity multiple return summaries have been displayed.

There is an MHP detail that shows various key financial line items of each park and in aggregate.

Make sure to only edit cells in blue text and shaded yellow.

Note, there is a 'lite' version that only has 5 slots if you want a smaller excel file. The 40 slot version is ~8mb.

See the making of this financial model (part 1/2/3) - note all of that was just to get to the point where I had all the logic for a single MHP property that was scalable to 40 based on how the inputs were setup.

Part 1:

Part 2:

Part 3:

Screenshots of Financial Model
mobile home park financing assumptions and return summary

acquisition and revenue growth assumptions for mobile home park

operating expense assumptions for mobile home park

pro forma mobile home park

pro forma 2 mobile home park

pro forma 3 mobile home park

pro forma 4 mobile home park

net operating income up to 40 mobile home park operations

acquisition cost summary of up to 40 MHPs

debt service summary of up to 40 MHPs

net cash flow summary of up to 40 MHPs

IRR Hurdle waterfall distribution for multiple mobile home park deals

IRR Hurdle waterfall distribution for multiple MHP investments

investor vs. sponsor cash flow visualization

preferred equity (hard) joint venture waterfall distribution for MHP - 10 year

cash flow bar chart for investor vs. sponsor

preferred return waterfall distribution summary - 10 year - mobile home park

joint venture distribution visual bar chart

comparative return summary of mobile home park investment

financial summary visualizations for a mobile home park investment deck