Updated over 1 year ago on .
Direct to Builder Build to Rent / Ground Up Spec Homes Columbus OH with underwriting
I hope this message finds you well. I am thrilled to share with you an exciting opportunity that has been in the works over the past eight weeks – the development of a strategically designed floorplan named "The Lillian."
After extensive research and market analysis, we've crafted a floorplan that not only caters to the current demand for rental properties but also positions itself as an ideal spec home for resale. Our target market includes investors looking to capitalize on the growing demand for homes between 700-1300 square feet, a niche that has shown promising returns.
Here's a snapshot of what we've been working on:
- Market Research and Design: Our team has diligently studied the market trends, incorporating a linear regression model to identify the sweet spot for a floorplan that optimizes both rental potential and resale value.
- Strategic Partnerships: To enhance the success of this venture, we are open to collaborative partnerships with other builders. Whether you're an experienced builder or just starting out, we believe in the power of combining different skill sets for mutual success.
- Financial Projections: We have conducted a thorough underwriting, providing detailed insights into Internal Rate of Return (IRR), returns, leveraged returns, and more. Attached, you'll find our comprehensive financial analysis outlining the potential for maximizing equity and achieving substantial returns.
- Construction Cost Target: With a target construction cost set at 75% of the appraised value, we are currently working with national vendors to finalize finish schedules. Our goal is to bring the cost below $284,619.60, ensuring a profitable venture for all involved.
The first groundbreaking for "The Lillian" is scheduled for January 2024, and we are actively seeking investors for additional projects interested in breaking ground in either Q1 or Q2 of 2024. If you have any questions or would like to discuss this opportunity further, please feel free to reach out.
We believe that this project not only offers a solid investment opportunity but also contributes to the growth of our community. Attached is a detailed business plan, and we look forward to building houses and partnerships throughout 2024.
Thank you for considering this exciting venture with us. We look forward to the possibility of working together and creating something truly impactful. Please reach out via phone or email if you want to learn more about any of the supporting documentation to this journey or explore what this could look like.
We want to help grow your build to rent (BTR), spec home, or ground up / new construction projects this year! New builds are a great strategy.
P.S. - we are expanding our BTR product to Tampa Florida with lot selection and full turn key construction for investors from start to finish on 2-4 units. Tampa has several submarkets such as St. Petersburg, New Port Richey, Hudson, Spring Hill, Ruskin, Sarasota, and Bradenton that have overlays that allow for multifamily construction. Please DM if interested in this market. We will have our finalized floorplan for Florida within 2 weeks. We already have 12 lots all of which we have visited in person and vetted them.
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- Robert Ellis