Deal Analysis and Interested Partners?

[Daniel Raposo]

Hello BP Marketplace! 

This is my first time posting in the marketplace, so bear with me...

I have a new construction deal in Norwalk, CT that I was hoping to get some feedback on. Here is a pretty in depth investment breakdown and analysis of the deal.

The basics are as follows: 

2 Lot Subdivision - .75 acres with 3,000 sq ft 4 br/3.5ba

Purchase Price: $300,000

Development Costs: $900,000

Sales Price (both homes): $1,500,000

All of these numbers are conservative in my opinion. I tried to give myself plenty of room in my construction budget, and went low on the resale numbers (which you will see in the comps) Keep in mind, that my company will be doing most of the construction work, meaning site work, demolition, foundations, framing, floors, cabinetry, painting, finishes, etc. so we can cut a lot of costs in those areas. 

The property is being bought with cash, so no liens. We are hoping to finance the rest of the development using either traditional construction financing or a combination of private equity investors and construction financing. We have had interest from various lenders to put up anywhere from $500k to $750k in construction type loans (meaning paid out as work is completed) but these options would leave us with varying amounts of private equity to raise ($150k to $300k) 

What are your thoughts on this deal as I have laid it out?

Does anyone have any interest in being an investor or lender on this project?

new construction, development, fairfield county, investment, lending, lender, investor, Connecticut, too many keywords...