First Spec Home Project

[Daniel Duran]

Investment Info:

Single-family residence other investment in Dallas.

Purchase price: $180,000
Sale price: $750,000

Investment Info:

Single-family residence buy & hold investment in Dallas.

Purchase price: $180,000
Sale price: $750,000

Syndication investment for a spec home in Dallas, TX. To be completed by Sept 2025.

Biggest take away: Start Before You Feel Ready: Progress comes through action, not perfection.

What made you interested in investing in this type of deal?

Having worked in construction and completing grad school for Architecture, I found myself wanting to do more. I started to explore real estate development and began taking courses, reading, networking - really anything I could do to better understand what a developer does and how to better position myself. One thing that I learned was to simply start. So I did just that. I found a connection that was looking for investors to do a spec home and jumped in.

How did you find this deal and how did you negotiate it?

I had the opportunity of networking and mentoring under an experienced developer who guided me through the process of underwriting and structuring a deal.

How did you finance this deal?

The project was financed through a combination of a group investment and a construction loan. We pooled resources to purchase the land and for the build, we secured a construction loan with a GC bid at $120 sf.

How did you add value to the deal?

Given my background experience in Architecture I was able to assist with providing plans, design and renderings to help in streamlining the project design phase and cut down on time.

I aslo took a stab at following up with any permit questions communicating between the building department and G.C. to see the permits though.

Lessons learned? Challenges?

The biggest challenge has been stepping into unfamiliar territory, where I don't always have immediate answers. Coming from a 6-year architecture program, I quickly realized that while we mastered design, there was a gap in learning how to analyze deals, navigate financing options, and evaluate risk - all of which felt overwhelming at times. But every challenge became an opportunity to adapt and grow.