What are some recent multi-family investments you've made?

[Paul Poteet]

I'll start off by sharing a deal I just finalized last month in Wylie TX. We just launched a new program, called our "JV-50" program, where we allow for investors to come in on our multi-family developments as JV partners. For our Wylie TX project, we'll be building a 22-unit development (all 2 bed 1 bath stacked units). We finalized the JV agreement and LLC operating agreement with our construction partner, then we brought on a JV-50 partner. He brought in the money to fund out the land and entitlement costs, the construction partner's financing the construction and building at a below market rate, we'll take care of entitlement, sales, & lease up. We should have it built in 8-10 months, after which we'll sell the finished asset and split the profits month ourselves, our construction partner, and our JV-50 partner! We couldn't be more excited to move forward with it!