Theresa Project in Austin Texas

[Eric F.]

Investment Info:

Single-family residence other investment in Austin.

Purchase price: $425,000
Cash invested: $85,000

https://www.alexanderresidential.com/808-theresa

Lot acquired and developed mid 2019- not listed yet but 4/1/2020 completion.

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

Hot market in Clarksville (a block off W 6th street in Austin Tx)

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

off market

How did you finance this deal?

bank 80% LTV

How did you add value to the deal?

GCed and provided avenue for design

What was the outcome?

Listing in 4/2020

Lessons learned? Challenges?

Although we still look to make a 20% + cash on cash return- I believe we over designed a little bit for this pricepoint.

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

Absolutely!