Deal is in SC...on 61 acres, 59 lots potential.

[Ken Lavertu]

Hey guys!

I dont post a whole lot here because life has been so incredibly busy! (I have 7 houses currently being renovated and also own a real estate appraisal firm)

I have a deal that came across my desk a few weeks ago and the more I research, talk to builders, and a few other developers, the better this sounds. The only hurdle right now is raising the capital needed (around 2 million). Owner has lived here for some time but is getting pretty sick and needs to sell. My current investor has his funds tied up in an apartment development and won’t be able to get his funds available fast enough for the 1031 exchange to take place. Current specs are: Purchase/acquisition price: $850,000 Development cost something around $850,000-$1,000,000 depending on what we do (around $215/LF of road) Wanting to offer 10% return to investors According to a NATIONAL builder in my immediate area who has built homes around me in major subdivisions...., they are very interested in my project and estimate a take down schedule of 7-8 homes a quarter. So we are looking at 2 year takedown and development schedule. Does anyone know of an investor who would be interested in knowing more about this deal to invest? I was thinking about syndicating this deal with a minimum investment of 100,000 as well. Any pointers on maybe working something out with the national builder? Any wisdom is appreciated!

Thanks! Ken Lavertu