Hello everyone,
I have been I search of private capital for a real estate development in small town Murray Kentucky. The land out here is cheap selling for less than $4000 with full utilities available. Most people I have made contact with are hard money lenders and that’s a factor we don’t want to use starting this project.
The deal is simple, we have started to build our spec house a 1900 square foot home with a two car garage. This home is currently being framed and all of the build has be paid for cash from our company. We currently own another build lot that we would like to start building on. This will require funding. Land is owned and cost us $1500 it is .46 acres. We plan on building another 2000 square foot home on this property. Building both homes is important so we can have strong comps for the continued construction of this development. Respectable sale price is between 200-250k with a low end cost to build at 100k per home including labor and land purchase.
With this deal we are seeking private capital for building this development. We are open to almost any terms to get this project going. We are excited to hear from anyone who may be interested. Our current problem is most are concerned about the low population, where as the housing market here is very strong and the need for new homes is a constant ask. My realtor has called me often wondering when we are going to start this project for she has many clients that are seeking new properties that are close to the lake. ( we are 1 mile from lake and public boat ramp as well as public hunting land)
Please send me a message if you are interested or know anyone who may be. Thanks for your time.
