Highland River Estates

[Luis Perlish]

Investment Info:

Other other investment.

Purchase price: $1,100,000
Cash invested: $450,000

Unique River Front and Mountain view 72 acre land Priced at 1.2 M and purchased at 1.1 M. This will be my first development and I am looking at a first concept plan for 50 lots. I will most likely stick to this number in case I need to reduce the number of lots when I present the plan to the city of Avery, NC. I have 2 Forecast Models using The Auction Model (2 big event sales in 2 different dates) and regular Realtor Style. Both Models using an average of $130,000 per lot could bring good Rev.

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

The idea of taking on the next challenge in Real Estate and strong potential in Revenue. This will give me the capital to move to bigger developments.

How did you find this deal and how did you negotiate it?

This deal was brought to me by a friend of mine who is a broker in Banner Elk.

How did you finance this deal?

450,000 in cash and 650,000 finance thru North Pointe Bank

How did you add value to the deal?

I told the owner of the land that I will help the housing crisis in the area by providing an amazing community for the community. My project will bring anywhere from 45 to 50 new homes.

What was the outcome?

The owner of the land help me to my word....Now I have to execute and deliver my promise....LOL

Lessons learned? Challenges?

In Real Estate everything is relationships. Sometimes is who you know instead of what you know.