One of the projects that are underway with Akron and surrounding area, where the City of Akron are doing a Tax Abatement for 15 years, with residential rehabs, and new construction, 5k or more in repair. 

Surrounding properties were being sold for prices far above reasonable market rates and we were receiving multiple offers for high priced, long-term leases on a weekly basis. 18 months after purchase, while many of these lease offers were quite enticing we ultimately decided to let go of the property; taking our deeper understanding of the market and $2.6M sale price with us onto our next project!! 

Hi @Richard Xiong is the projected rent increase based on value you know you can add or projected appreciation?

I have used Lumber Liquidators for multiple projects and very much prefer them.

We each have our own LLC's but should we start a new LLC for this project?  

@Abel Lopez also consider that, when you'll need to exit and pay the balloon payment to the seller, that bank interest rates will likely be higher than the are now, so be conservative in you future projections.

Thank you.Happy to discuss project location and specifics in private messages.

Still expanding there, but am looking to shift more funds towards NJ flip projects.

I assume this is a multi million dollar deal.the builder of course NEEDS YOUR equity to get his loan.. now the good news is if he  can get a loan means he is somewhat to fully qualified.. you can do a participation mortgage in second position calling out for an interest rate and a bonus you just put it right in the note.. or lets say your lot price is 500k.. you simply write your note for 650k plus interest.. this assure you of profit.I would not do this though if you have no means to step in and complete or cash out the first.. nothing is worse than taking over a build project from a builder that failed mid stream

Agreed, it will Never be exactly whatever you project, 8,10 15%.