New construction, fully decked out on the design and amenities. purchase price 785K, 40K in seller credits, 120-140k gross rental projections What made you interested in investing in this type of deal?

Knoxville isn't a luxury market. widen the gap and do new construction. find infill plots of land in better locations and have more control. work closely with a builder who Is working with investors. we have flippers who did hundreds of flips then they graduate to new builds and say it's much easier. if you have the balance sheet you'll be fine. budget 20%. new construction commands a 20% premium and is much easier to duplicate Over and over and much less risk. 

The average sale price for all new construction homes in the Charlotte region was $488k as of December 2024, so nothing less than $1 million is 100% false.

My role with this MF company is to manage the design, construction of the GC's and opening of the properties.

Blacktip Construction Group.

I'm looking at their multifamily new construction as well.

If so, you should also look into the insurance requirements during construction (both builder risk as well as the GC's policy, but particularly the GC policy).

Paid 77% of the original list price on this new construction home.

The provider I am using allows for 60 days of continued coverage once construction. 

For any investors in the group, take a peak at #10 Greensboro/High PointIt's an interesting choice of verbiage to look at "median" sale price YoY because 10% feels like A LOT on the entry-level/investment inventory, and more of what I see in the high-end resale and, specifically, new construction inventory that tends to swing our avg's way up in the macro.Completely disagree that rent will be 0%.