240 UNIT DEVELOPMENT PROJECT 💡

[Devin Meriwether]

I would love to connect with a seasoned developer that could give me some insights about my project idea.

I lived in an apartment this year and my monthly rent was $885 + $125 administrative fees.

There is a perfect leveled landlot available right behind the apartments.

I figured if I could develop a 240 unit complex at 30k each thats $7.2M Project costs.

I could get minimum 90% occupancy all throughout the year with better rent prices!

If you average $850 x 216 units (90% occupancy)

= 2.2M Annual gross rent income + 324k for administrative fees.

I feel like that would pay itself off in less than 10 years and start being a cash cow..

Please any developers give me insights!