New build modern multi-family development

[Ramez Qubain]

Investment Info:

Large multi-family (5+ units) other investment.

A luxury condominium community in the heart of the Bull City, steps from some of North Carolina’s best restaurants and entertainment venues.

This is a two building development, each building with 7 condos, including 1,850 SQFT 2b/2.5 bath, 2,400 SQFT 3b/3.5b and 3,320 SQFT 3b/3.5bath.

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

New build in the fast growing market

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

we found the plot and negotiated the price

How did you finance this deal?

Paid cash for the land, some capital from the bank for the construction and then a construction loan

How did you add value to the deal?

Modern design and new construction

What was the outcome?

sold 4 out of 7 condos so far before finishing the construction

Lessons learned? Challenges?

TBD