Realty411 Magazine The Future of Real Estate is Here | Page 36
The Best Education in the Real Estate Industry!
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$1,650,000. We now have 126 residents combined from both
parks (up from 89 a year ago when we took over). We will
add 6-10 more repo’s in the Spring to get to 70% occupan-
cy. We just had the parks appraised and the valuation was
$3,225,500. We will get all of our original capital and rehab
funds back upon a refinance this Spring. More important,
the parks have been positive cash flow from day one (I
can’t stress the fact enough that you never buy a negative
cash flow property) and the monthly net cash flow (after all
expenses and mortgage payments) now exceeds $15,000
a month. You can see a positive article about our project
written by the local newspaper on our website, just go to:
www.acgmhc.com
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Mike Conlon is the founder and majority owner of Affordable
Communities Group, LLC based in Cary, NC. He is also
the author of Unconventional Wealth: The New Mainstreet
Millionaires, which is available through Amazon.
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13740 Research Blvd. • Building J, Suite 7 • Austin TX, 78750
© 2013 Stallion Capital Management
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PAGE 36 • 2014
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