Multi-Family New Build Opportunity!
Investment Info:
Small multi-family (2-4 units) other investment.
Purchase price: $8,000
Cash invested: $8,000
Sale price: $240,000
This opportunity involves a new build on a property in North Mansfield, OH close to a private member golf course. We will be building 2 duplex's on acquired land. The land is adjacent to 4 new single family homes recently built. We are looking for individuals and companies who are looking to partner with us and continue on with us as we work to build new affordable, safe, clean, and comfortable homes to accommodate the gap in available housing for the population.
What made you interested in investing in this type of deal?
Housing is very limited in Columbus, Ohio and surrounding areas and the demand far exceeds the availability! To help meet the need I have decided to acquire vacant lots in areas and towns in Central Ohio and help meet the need. Not only will we help meet some of the need, we will help transform communities which haven't seen new life in quite awhile. This can revitalize the local community and bring new excitement and individuals in the area.
How did you find this deal and how did you negotiate it?
I acquired the land through a lead from a member of my team. When conceptualizing the new build, another team member was able to get is special access to a builder that uses exclusive building concepts and material to produce new homes in a faster, more insulated, and quality way! The product we use is designed to last and perfect for colder climate areas as seen in the northeast and midwest parts of our country.
How did you finance this deal?
Cash, seeking private investors interested in financing the construction. A short term construction loan will be used if private money is not acquired.
Lessons learned? Challenges?
I anticipate some challenges and willing to learn and grow when needed.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I do have recommendations for agents and lenders in the area, just ask.
