Stephen Raleigh

Laingsburg / Lansing, MI (USA)

Sandstone Mgmt, LLC

Location: Laingsburg / Lansing
Industry: Real Estate
Year Founded: 2010
Number Employees: 1-10 people
Business Stage: Growth (profitable)
Entity Type: Limited Liability Company
Description: Asset is a 105 permanent space mobile home community plus a 65 space RV component surrounding a lake. Asset is free and clear. Acquisition: Feb/2010. Occupancy @ 40%. Cannot expand until capital improvements are completed to wells and treatment plant. MDNRE mandate. Constant demand for affordable housing. Operating Expense is 40% of the CGI. First year CGI: $185,000.00. NOI: $112,000.00. 90 day fire sale: $700,000.00. Require $150,000.00 to complete mandates. Equity and/or debt, first position. Stephen V Raleigh (principal) is a licensed General Contractor and licensed Electrical Contractor, since 1973. All upgrades orchestrated in-house. (URL removed)