Tide Mill LLC
11 Acre Waterfront Resort in Charles County, Maryland
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Tide Mill LLC (“Tide Mill” or the “Company”) was formed for the purpose of acquiring, rehabilitating, and managing Tide Mill Resort. Tide Mill is a waterfront resort in the Chesapeake Bay Recreation Area, only 40 miles from Washington DC. Located in the quaint historic town of Benedict, Maryland, the resort offers its vacationers waterfront dining accessible by car or boat, a coffee shop, deli, and bakery, daily cabins to stay in, a protected harbor with 70 boat slips, boat launch ramps, dry boat storage, a 400 foot deep water pier with 20 slips for boats of any size, daily RV campsites, showers, ships store, kayak and boat rentals, sandy beaches, picnic tables and fire pits, sand volleyball and other outdoor activities.
The Company will seek to acquire and manage this real estate asset with the intention of providing participating investors with a real estate focused investment opportunity that combines income, principal investment growth, and elements of capital preservation and securitization.
Tide Mill appears to be one of the last REO properties of its kind left over from the economic crash of 2008 in the Charles County, Maryland area.
Tide Mill Resort is a waterfront income property comprised of two legal lots on 11 acres in Charles County, Maryland, in the Chesapeake Bay area 40 miles southeast of Washington, DC. Revenues will come from a mix of rentals from cabins, RV campsites, boat slips, restaurant food sales, bar, retail sales, boat rentals, boat storage and repair fees, and special events. Access is via Route 231.
Overall, Tide Mill appears to be one of the last REO properties of its kind left over from the economic crash of 2008 in the area. Since then, area prices have stabilized and increased for years. This presents a rare opportunity to purchase a waterfront 11 acre property with grandfathered structures and amenities at half price or more of comparable properties in the Chesapeake Bay recreation area.
The current condition of the property is poor: all structures require complete rehab and updating. This includes the lodge, cabins, garages, boat houses, decks, marina bulkheads, piers, docks, slips, jetty, helicopter pad paving, seaplane dock repair, and the harbor requires maintenance dredging. Amenities to be added are entry gates, additional access streets, pool, cabana, boat shop, store, deli, bakery, kayak rental shop, rv campsite hookups, showers, boat loading doc pad, new gas/diesel tanks and pumps, security camera system, and dry boat storage fencing.
However, there is a lot of value built into the property. It is being purchased at 10% ARV, and presents a huge upside in sales and rental income. There are special features that are grandfathered into this project such as the lodge building on the water, waterfront cottages, boathouses, piers and docks, helipad, seaplane dock, and man made sandy beaches that would not be permitted otherwise. It’s management’s opinion that this is a classic underdeveloped and underutilized property that would begin earning income six months after purchase, achieving full income capacity and rental stabilization within two years.
Management’s objective, once the purchase of Tide Mill Resort is achieved, is to complete all repairs and add the amenities to bring this to a fully functional and highly sought after area resort for enjoyment of the Chesapeake Bay waterfront lifestyle. The Resort will be advertised to cities in several surrounding states as the area’s full service resort with a coffee bar, restaurant, bakery, and deli, RV campsites, cottages, water park style pool, sandy beaches, conference center, summer camps, weddings, events, kayak and boat slip rentals. Marketing efforts will present incentives such as day passes to the pool and spa, restaurant coupons, and cabin stay deals through an easy to use iPhone instant reservation app and website portal that will use sites such as Hotels.com to boost business and create sustained income and value.
The Company is currently managed by seasoned business and sector professionals dedicated to the success of the Company and efficient execution of its planned operations
The Company is offering a minimum of 1,490,000 and a maximum of 3,500,000 Class A Membership Units at a price of $1.00 per Unit. Upon completion of the Offering between 1,490,000 and 3,500,000 Class A Membership Units will be issued and 6,500,000 Class B Membership Units will be issued to the Manager.
The Class A Membership Units sold through this Offering shall be provided a twelve percent (12%) non-compounding cumulative Preferred Return Distribution (the “Preferred Return”) paid to investors annually each fiscal year. The Preferred Return Distribution will be subject to the financial performance of the Company and Management approval. The Class A Membership Units shall also participate in a pro-rata percentage of any additional net income approved for distribution to Members. Assuming maximum proceeds are raised through this Offering, the Class A Unitholders would participate in thirty-five percent (35%) of any additional net income generated by the Company whether derived from net operating profit or from capital gains from the sale of assets.
"THE WEALTHY TURN TO REAL ESTATE"
The Tide Mill LLC 506(c) Investor Portal provides the opportunity for you to become approved as a “Prospect", and learn more about our investment opportunity. You will have:
We will upgrade your account to “Investor” level access, which provides all of the Prospect level access and: