Hey guys! I don’t post all my deals on here, but every once in awhile I’ll post a deal that has a very short fuse or huge ROI, in this case, this deal has both! We have to close on this lot by 10/12/17 and the ROI is going to be approaching 70%! Also keep in mind that this is a rather passive opportunity. It won’t suck your time.
Here are the details:
- Off-market lot – 0.55 acre in Bluffview – $750k
- Comparable sales in the last 9 months are $2.35M to $3M
- Plan is to build around 4800 sqft for $910k (see numbers and finish out example below) and sell for $2.4M. The build cost includes the builder’s 15% fee.
- Need a total of $500k cash to make the deal happen, and builder is willing to throw in $100k.
- The attached photos are of a house that sold two doors down 6 months ago for $2.36M at 5200 sqft. The lot it was on was less desirable than our lot.
- The builder I have lined up is David Leite.
- Survey for 8410 Midway Rd in Dallas
- Timeline – Cash in and out in 14 months or less.
If you’re interested in this project or a project similar to this, please feel free to reach out. I’ve got others in the pipeline, but this one has the best numbers I’ve seen in awhile. We need as little as $250k to close on this lot.
Brandt Barham – brandt@nailandkey.com – 469-531-4131