Buckley Townhome Development

[Clint Absher]

Investment Info:

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

Purchase price: $725,000

18-unit townhome new construction development

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

Construction and real estate investing background.
Interested in the entitlements process and value add to land for new construction.

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

Friend's high school teacher owned the property.
I negotiated the deal and structured the proforma.

How did you finance this deal?

Partnership of a group of 4 people.

How did you add value to the deal?

Entitlements, new construction

What was the outcome?

Construction began August 2024.
Anticipated completion of Fall 2025.

Lessons learned? Challenges?

Lots learned from this one and excited for the next opportunity.
Timing the market, timing and relationship with the city, relationships with contractors and lenders.