Gene
0
- Joined
- Sep 4, 2007
- Messages
- 56
This single family home was started in September 26 2007 and it was sold on February 15 2008 with a closing date of March 10 2008. This property was listed with ComFree for no more then 10 minutes, when the buyer called. No appliances, no land escaping and no garage.
In August the construction cost of this unit was projected to be $428000.00 with an appraisal of $559,000.00. The cost came in at $400,000.00 with a selling/asking price of $619,000.00.
The Joint Venture would have got ½ of this number $131,000.00. Or $65,000.00 each but instead the Joint Venture get’s ½ of this number $219,000.00. or $109,000.00 each.
This investment took only 5 months. Investor put’s down $107,000.00 and gets financing for rest of the construction project (the interest is covered in the project).
If you would like more info on a project like this, you can contact Gene Hunt 780-880-6447, email [email protected]
In August the construction cost of this unit was projected to be $428000.00 with an appraisal of $559,000.00. The cost came in at $400,000.00 with a selling/asking price of $619,000.00.
The Joint Venture would have got ½ of this number $131,000.00. Or $65,000.00 each but instead the Joint Venture get’s ½ of this number $219,000.00. or $109,000.00 each.
This investment took only 5 months. Investor put’s down $107,000.00 and gets financing for rest of the construction project (the interest is covered in the project).
If you would like more info on a project like this, you can contact Gene Hunt 780-880-6447, email [email protected]