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Updated about 4 years ago on . Most recent reply
Beachwalk Development Project
Investment Info:
Single-family residence other investment.
Purchase price: $450,000
Cash invested: $210,000
Sale price: $3,269,000
5 Single Family Home Development. Bought the land for $480k with a partner. We excavated the land, then got a construction loan to build the 5 homes.
Sale Price on all 5 $ 3,269,000
Land Cost -$ 450,000
Excavation cost -$ 500,000
House Cost all 5 -$ 1,625,000
Permits -$ 61,000
Holding Cost -$ 92,000
Closing Cost -$ 131,000
TOTAL PROFIT $ 410,000
