Duplex Development from raw land

[Dustin Chisum]

Investment Info:

Small multi-family (2-4 units) commercial investment investment.

Purchase price: $40,000
Cash invested: $100,000

Building a duplex from the ground up. 1600 sq ft. 4-2. Each unit is 2-1. Should be wrapped up in June 2024.

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

I like development and building equity.

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

I found this deal by driving around and talking to lots of people. I was able to get into this by networking with some very smart and talented people in the local market and banking.

How did you finance this deal?

I used some of my own capital and commercial financing.

How did you add value to the deal?

I added value with forced equity. Built from the ground up.

What was the outcome?

Still finishing up. I have about a month to go and looking to sell.

Lessons learned? Challenges?

I learned partnership with smart people can speed up a positive outcome.