Oceanpointe Investments New Construction Rentals

[Chris Hartley]

Hello,

I'm interested in hearing from any investors who have purchased new construction rental homes from Oceanpointe Invesments/Burt Whalen. In 2018 they pulled around 100 new construction permits with The Waire Group as the builder for very simple 3/2 slab on grade homes built on lots they purchased through tax auction. It appears they have only completed a handful of these homes, which are notable for their amazing low cost ($54k~ show in the permits, they appear to sell for them for $68k). They have sold a number of the parcels after pulling the permits but prior to starting construction. I'd love to hear from any investors who are involved in this facet of Oceanpointe's opperations. 

[Jay Hinrichs]

I think you will find that very few actually got built and the investors put up 100% of the construction cost and did not get what they paid for