New Construction Build

[Joseph Sortino]

Investment Info:

Townhouse other investment.

Purchase price: $1,200,000
Cash invested: $1,000,000
Sale price: $3,800,000

Bought property with 1 home on it and built 6 units, sold for avg price each of $639,000

Lessons learned? Challenges?

Bought this right before Covid shut everything down, build took longer than usual and cost per square foot went up but there was enough room in this deal