Overview
Alexander Keen Fund- We are looking for a $1,500,000.00 investment for 36-month term. This lets us build 10 houses per 6 months. To build starter homes for an investment group. We live in the Charlotte NC market which has very low inventory due to an influx of companies relocating to the area. Also, a casino being built and the amount of growth around this will be staggering. These combined are bringing over 70,000 new people to the area. There are several cap funds that will buy everything we can build. We are trying to scale up to take advantage of this opportunity. Traditional money lenders are taking 2 to 5 months per loan causing a huge drag on production. We could build 10 houses per 6 months with a 30-40% profit margin. We are building the same valued engineered plan over and over. This makes it very easy to turn around production. Our model is simple, on average property purchase around $50,000.00. The build cost on our 1365sqft model is around $85,000.00 and $15,000.00 per admin cost. Therefore with the investment we can turn 10 houses every 6 months. Giving a return to a investor of approximately 30 – 40% with very little risk. We will have a 3rd party control the funds. Our group does the value added. Purchase property, build home, and sell home and third party pays all bills and disperses dividend checks per project sold. We would like to increase production over the next 24 months with a new fund.
Experience
Builder Michael A Martin has been a NC contractor building over 20 years in three states. I have built approximately 300 to 400 homes ranging from starter homes to million dollar homes. I have developed 8 subdivisions from 10 to 140 houses unit. I have borrowed 10s of millions of dollars from conventional banks, hard money, and investors. I am very good moving through any markets. My partner and I were the only 2 A&D Loans at two regional banks to NOT go bankrupt after 2008 housing crash. Paying back $2,400,000.00.
Emory Keen is the team realtor in charge of locating property to purchase and interacting with the cap-groups through closing. Emory Keen has 23 years of sales experience including sales in the financial industry. Emory learned the construction business working insurance claims, restoring smoke, fire and water damage. He got his start in the Real Estate industry doing fix and flips with private funding and retail real estate. He understands market variations and comparable home sales. For the last 2.5 years in the NC market he's managed over 65 million in sales volume, mainly new construction. Emory is eager to acquire build able lots and get top dollar for our finished product.
30 – 40% returns TO INVESTORS WITH LOW RISK. Here is the Breakdown.
Information-
Charlotte NC Market and surrounding areas.
Companies relocating to Charlotte/ ACC, Honeywell, Columbus Mckinnon, Credit Karma, Premier, Duke Energy, Lowes, Bank of America, Bosch, Macy’s, Better.com, AvidXchange
Over 70,000 people
Inventory very low less then 2 weeks supply on MLS
Average sales per ft. $199
3 Capitol Investment Funds purchasing new homes.
We have relationships with these groups to purchase our homes. Paying on average $185.00 per ft.
Our bread and butter plan is 1365sqft. Cost to build, land, and administration fee is $150,000.00 or less depending on land cost.
$252,525.00 Sell Price to Groups.
· Building cycles are every 6 months.
· $150,000 per project this will purchase land, house build, and administrative cost for a 1365sqft. Home.
· Cap groups are buying average 185 dollars per sqft. Using this number. $252,525.00 – Cost $150,000.00 –
· Profit $102,525.00
· Investor gets 35% of profit - $35,883.75 per house x 2 building cycles per year = 47.8% return per $150,000 investment.
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