Elijah Clarke Drive Lots LLC

[Mark Martin]

Investment Info:

Single-family residence other investment.

Purchase price: $40,000
Cash invested: $40,000

Our organization has six parcels to build nine to ten single family units. Located in Washington-Wilkes Forest Hills Subdivision, the Elijah Clarke Drive LLC project will be a great investment for first sime home buyer. Minutes away from the middle and high school, these ranch style home will add value to the neighborhood itself. Our organization is looking to apply for funding from the Department of Community Affairs to offset construction cost to bring in new development at a reqaosnable cost.

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

After studying real estate for over a year and working with my sibling, who has managed multimillion dollar portfolios, we decided to create a non-profit focused on residential development with private developers.

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

We worked with investors that like our mission and vission for residential development.

How did you finance this deal?

We currently have a hard lender that will release funds for construction and investors from New York.

How did you add value to the deal?

By networking and speaking with people in the local area.

What was the outcome?

We are still working on the project. Hopefully, to come out by the end of 2023 fourth quarter.

Lessons learned? Challenges?

Study the market EVERYDAY!!!!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am licensed in GA and would loved to work with other agents/brokers for investment and development deals.