New 12 unit Development Opportunity $890k

[James Steele]

Investment Info:

Large multi-family (5+ units) wholesale investment in Grayson.

Purchase price: $125,000
Cash invested: $3,050

This is a property we have acquired to design and relist, with plans and city development approvals for 12 new SFRs. We have the property currently listed at $890k. The estimated sale price of each property is around $550,000. That is a total sale value at $6.6 mil. Estimated development cost is around $3.8-4mil. That leave a profit margin of $2.6 mil. We are currently entertaining offers if interested. Its in a newly-developed community.

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

Has minimal competition

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

Off listing

How did you finance this deal?

Currently holding property under contract.

How did you add value to the deal?

Our Company performed all the due-diligence and have been in communications with the city planning and building departments. We created an approved community design that is pending approval from the city.

What was the outcome?

Pending

Lessons learned? Challenges?

Do as many as we can