Seeking JV Partners For Houston Land and Development Deal

[Bryan Hancock]

We have the opportunity to purchase some distressed lots (real...not paper) in Houston, TX at a very significant discount to market value. The land acquisition note is in default and the property will go to auction the first Tuesday of next month. We can delay the foreclosure 1 month if we have financing lined up using our own POF.

The play will be to sell a big portion of the lots to smaller builders and to build out the rest. There is roughly $1.5M in upside in the project if we build on 20 of the lots, which is our current plan.

Please contact me if you are interested. My partner in this deal has 35+ years of development and syndication experience and a lengthy track record of success.