I'm an infill developer in Boise, ID. I've found a niche where I have nice margins and have a huge opportunity for significant growth this year and beyond. While I am in the process of setting up my syndication infrastructure, I'm looking to fund deals creatively with other investors for the next few months. I currently have a project under contract that after funding the purchase and carrying costs(then using construction loans for construction costs), a private money person can walk away with a free townhouse after the return of capital from other sales. This townhome value would be ~350k, ultra conservatively, on the market today, with long term rents $1750 conservatively. (Closest comparable is active on the market for $500k, albeit probably overpriced by $50-75k)

Details:

This would be a partnership deal with a 50/50 split of proceeds.

Seeking: $365k total in funding of purchase plus entitlement costs

Upon entitlements (8-12 months later), would need another ~50k for development loan costs for another year

For Vertical infrastructure (after 2 years) would need another ~250,000 for vertical construction loan and carrying costs.
Total Investment: $665,000 for 3 years, upon which funds will be returned upon sale of 6 or 7 of the 8-9 unit townhouse project.

2 units will be left, free and clear, with 1 going to the developer (me) and 1 going to the investor. Investor can then have unlimited return on capital going forward.

I have already done a similar development, completely on my own, where I built 5 houses and was left with a 6th free and clear. I have another on my own completely where I am building 4 houses, and just barely will need to leverage the 4th house if I wish to keep it. This deal I have the lots under contract for less than half the cost of my previous developments.

I have also done several partnerships on smaller deals where we shared proceeds, so this type of deal is familiar and right in my wheelhouse of what I do.

I have this deal under contract, and several other larger deals I have access to off-market that the same could be done with more units left at the end.

Anyone interested?