All Forum Posts by: Paul Poteet

@Bret Perrero Hi Bret! I'd be happy to send you some info on that project. I'll message you privately. 

@Account Closed Thank you! Yes I have. My company focuses primarily on multi-family entitlement and construction. We have 96 units about to begin construction in Ennis TX, 72 units about to begin in Ogden UT, and we're finalizing entitlements for 82 units in Springville UT that we plan to build as well. What have you been working on recently? 

Investment Info:

Large multi-family (5+ units) other investment in Wylie.

This is a 22-unit development. I bought the land, entitled it, and am moving forward with a Joint Venture to build it now.

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

The zoning was in place for the project already, I just had to complete entitlements and move forward with construction.

How did you finance this deal?

Through our JV-50 program. The "investor" actually became a partner in the LLC that owns the land. They are entitled to 25% of the profits after the buildings are built and sold.

How did you add value to the deal?

Entitlement of the land.

I'll start off by sharing a deal I just finalized last month in Wylie TX. We just launched a new program, called our "JV-50" program, where we allow for investors to come in on our multi-family developments as JV partners. For our Wylie TX project, we'll be building a 22-unit development (all 2 bed 1 bath stacked units). We finalized the JV agreement and LLC operating agreement with our construction partner, then we brought on a JV-50 partner. He brought in the money to fund out the land and entitlement costs, the construction partner's financing the construction and building at a below market rate, we'll take care of entitlement, sales, & lease up. We should have it built in 8-10 months, after which we'll sell the finished asset and split the profits month ourselves, our construction partner, and our JV-50 partner! We couldn't be more excited to move forward with it!

@Guy Barlow I just emailed you. Please check it and reply with any questions. 

@Steve Matthews We'd be happy to accommodate you and your guests! Please email me at [email protected] with any questions on the camp or to get registered with your guests. We'd love to have you there!