New Jersey is high.  

I've also done some high level analysis of Nashville TN, Tampa FL, and the state of Georgia.

It's in high demand so we booked in 2022 to secure our dates.

Entity Formation & Legal CostsExpenseLow Estimate ($)High Estimate ($)NotesSPV Formation (LLC or LP)$300$1,500Delaware LLC (~$300), legal service fees varyOperating Agreement$500$2,500Template (~$500) or custom legal workPrivate Placement Memorandum (PPM)$2,500$15,000Off-the-shelf ($2,500) vs. custom legalSecurities Filings (Reg D 506(b) or 506(c))$500$2,500SEC & state Blue Sky filingsAccredited Investor Verification (506(c))$1,500$3,000Performed by third-party verification servicesSubtotal: $5,300 – $24,500

1 of my kids went to prospect high.

Property needed some TLC as it had some termite damage and active infestation at time of move in, got quotes from contractors to replace some studs but all quotes came in too high so ended up doing most of the work on the home myself which meant the home sat vacant until January 2025 at which point i placed on rental sites but still waiting for vacancy to be filled.

Hello everyone,I’m an experienced real estate developer and builder with over 35 years in high-end construction and property development across Canada and Mexico.

Happy to send you a few example deals so you can see some numbers and returns and would love to connect and answer any other questions you have!

If your really needed it one could also consider hard money though that will come with higher rates and getting someone to give you 300k first time might be harder than just getting loan then you could refinance it later.Since your a high net worth person I would also try talking to local/regional and even big bank lenders.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Section 8: Rents are too high for the program and cash paying tenants are better overall.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsSection 8: Rents are usually too high for the program.Class C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.