This was originally a vacant rental on a corner lot, fronting a busy road on the edge of a desirable infill neighborhood in Charlotte. Since the lot was so long, we were able to rotate the frontage along the corner 90 degrees, now making 3 lots on a side street inside the neighborhood.
We have sold and closed on 2 of the specs for full price! Here they are below:
As you can see, the third is under construction, but already under contract!
Looks like a nice deal you put together. Did you design the houses? Can you share floorplans? Cost to build?
Smart thinking on changing direction, and Congrats on the whole project! I LOVE those houses, I'm so jealous as they are just my style! (though not what we are building here in southern California of course). Please, give us the details, sizes, what did they sell for, etc. Any pics of interiors when they're complete would be great too.
Nice!! I ride by those houses often they have great curb appeal, its no wonder you were able to get them sold so quickly. Great idea on using the size of the lot. Please share the numbers and time frame for everything when you finish, if you don't mind.
Wow - looks great. Is that in the Chantilly/ Plaza Midwood area? I think I may have seen those before.
@Ryan R. , I hired a design team to handle the floor plans and facades. One design team handled the first 2 specs, and a different designer handled the 3rd one. Although, I will I say I had a ton of input, as the original design team rents office space from me, so I bother them constantly :)
@Karen Margrave , Thanks for the compliments! I know from previous posts that you are a fan of craftsman style homes :) The first two were 2,200 sq ft and sold for 350k each. The last one is 1,600 sq ft and was listed at 285k, and is currently under contract.
@Qulia Bryant , I bought the property in late August. Dealing with demolition, subdivision, bringing in utilities, getting plans drawn up, and then approved by the county was quite a process. I didn't start construction until December.
C Coley Mitchell, It's close to Midwood on the edge of NoDa, the arts district-- hence the bold exterior colors :)
They look great. I love historic bungalows as well. I will have to drive by them
Congrats, they all look great! I love the idea of the bold colors and the creative thinking with the lot. Thanks for sharing!
@Bryan A. Makes sense - I will cruise by after work today. Looks like you are killing it - checked out some posts on some of your previous projects as well. Congrats on your success.
C Coley Mitchell, thank you. It's been a fun, busy year so far. Do you go to REIA meetings? We have a subgroup meeting tonight towards Lake Norman.
It's been a very exciting few weeks. So many people have noticed our development that the local paper ran a story on it!
Awesome job. This is exactly the kind of thing I'd like to be doing down here in Charleston. I see you've posted a bunch of other interesting projects. I'll have to go through and check them out.
Keep up the good work!
Thanks very much @Patrick H. . My wife and I go down to Charleston every other month or so and love it. I'd love to check out some cool areas next time I'm in town :)
Hey @Bryan A.
Let me know next time you're in town. I'd be happy to grab a beer or something if you're up for it.
@Bryan A. Wow, quite the buzz on your stuff. How fun! I love watching what all of you guys are doing with new construction, and the different styles, markets, etc. Have you checked out J Scotts site? It's so cool! The Scott Pad site he really takes advantage of all the social media, and stuff.
How many of the houses have you sold? What are you lining up for the future?
@Patrick H. - sounds good!
@Karen Margrave - J Scott's site is super impressive. I'm also following his updates on facebook. Unfortunately, I don't trust myself to keep up a running blog on a project- I tried it on a house flip I did very well with a few years ago, and I only posted a few times, and then got too busy with the actual house leaving the blog to die. On that Sweetbriar project, there were 3 homes in a row. Two are sold, and the third is still under construction but is under contract. I have a handful of others I'm doing currently, and have 4-5 planned to start in the next 30-90 days. I've learned that you're only as good as your pipeline, so I have to keep making sure I have enough starts to keep up with sales. You'll be happy to know that 1 of my starts will have more of a modern edge to it, similar to yours and the Austin boys :)
@Bryan A. I'm with you on the difficulty of keeping blog current, etc. but I love reading others. It's always fun seeing what others are doing. As for you doing a modern styled house, can't wait to see it!
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing