James Kellys pioneering Victorian creation, Lifestyle Communities, settled another 110 homes over the six months to December, taking the total developed over 10 years to 1,256. Net profit before was $13.7M.
Lifestyle Communities has nine established sites plus three in early development stage. The 1,256 homes generated $5.5M in rental (cash) income over the six months close to $1M a month. Unusual for an LLC operator, they also charge a DMF capped at 20% after five years.
One in three sales come from resident referrals.