All Forum Posts by: Steve Bergeron

@Chelsea Cowgur

Starting services in about a week and footings for the first 7 units right after.

Excited to get started!

After all the planning it’s going to be 13 units total,

One 4plex and three 3plexes

@Nigel Prentice

That’s not the math we came up with. 200K X1% is 2000 dollars so 6 months he made 12k on his investment.

He structured it this way cause it’s easy to figure . Every 100k it’s 1 grand per month interest which makes it 12% per year . And I think it’s a fair rate as I don’t plan on going over a year to pay back any investments on my builds.

Thanks

@Steve Hiltabiddle

Hi Steve, those are all very good points and I will look at putting together a lenders package.

Thank you

@Nigel Prentice

Hi, I have a hard money lender and he charges me 1% per month . I borrowed 200k on last project,paid back in 6 months and he got 12 k on top of his investment.

No strings attached, just wrote up a deal explaining terms

Hi BP members,

I’m just looking for any advice or tips on making your Pitch to potential investors.

I recently had a zoom call and was giving my pitch and it was harder than I thought it would be. It was the first time dong this and I think it showed!

Thanks

Steve

@John Patterson

Perfect, that’s what I’m shooting for.

Thanks

@Emmett Meyer

Hi, are you just interested in investing in the L.A area?

Any thoughts on investing in Canadian real estate deals?

Hi BP members,

Just want to reach out to other building developers.

I’m trying to figure out a good average of profit per unit when sold that I should be shooting for. I know there are tons of factors but I think if a person is building enough units should be able to come up with an average.

I’m thinking 40K per unit a person would be doing very well on a multi project.

I haven’t hit that number yet but my projects have been smaller so property cost per unit were a lot more.

Any responses would be great.

Thanks

Steve

I have been a general contractor for about 15 years and the last couple I have been getting more into developing my own projects duplex’s,  triplex. 
A few months ago I was lucky enough to get drawn on a land lottery for a multi residential lot. 
so this will be my biggest project so far and looking forward to it. 
The housing market is very strong strong here and doesn’t look like any slow down in the next several years.

@Anthoney Hanks

Hi Anthoney,

Thanks for the response and info and hope all goes great for you in 2020

Thanks