Custom Lake Lanier Home #2

[Daniel Nelson]

Investment Info:

Single-family residence other investment.

Purchase price: $287,000
Cash invested: $428,765
Sale price: $960,000

Custom Home on Lake Lanier.

What made you interested in investing in this type of deal?

I had just finished my first custom build on Lake Lanier and found another lot in a nicer neighborhood that had similar but better projections.

How did you finance this deal?

Partnered with a friend to buy the lot with cash and obtained an interest only construction loan for the project itself.

What was the outcome?

We were able to pre-sell this home through my network of agents in about a week. We ended up making some slight changes due to the buyers personal taste, but were able to stick to the original scope for the most part.

Lessons learned? Challenges?

Shipping issues and material shortages proved to be our most challenging obstacle. There were multiple times we had to get creative with materials and designs to try and stay within our budget. This is why having builder partners is so valuable to investment real estate.