I have been syndicating projects since 1972, This project is an affordable new duplex built for families that have a difficult time providing shelter for their growing family. A single-family home is beyond the budget since student loans from a starting income do not leave enough for the home they desire. These duplex units have three bedrooms, two full baths, and two living areas separated by the floor levels. Each unit has 2,345 sq. ft. of living area. Larger than many single-family starter homes, built with insulated concrete forms (ICF) to provide soundproof divider walls, ICF for exterior walls for energy efficiency, remove all outside street noise, and protect occupants from a possible tornado.
The duplex is designed for efficiency, longevity, and lasting value. By using a tri-level design we remove full story stairways while providing the separation of families' need for privacy and entertainment. Each level has its own great room space for study, entertaining, or games. Each level has a full-size bathroom, refrigerator with high ceilings. The lower level has the laundry near the children's bedrooms where the soiled clothes are produced.
Our location in a historic neighborhood has the largest hospital at 400 yards, grocery stores within a mile as is a great variety of shops. Our plan is to rent the units at below-market sg. ft. pricing with an unlimited time limit option to purchase the units using ten percent of the rent paid with a 10% credit toward the fixed purchase price of their unit. After only one year of occupancy tenants will have to consider leaving a credit of over $2,000 credit that will grow annually. Rental increases will be limited to the COL Index and can be sublet by continued liability.
The option sale price of the units is planned to be present appraisal price plus two percent (2%) per year compounded for ten years. Fixed after that. We believe the appraised value will be $234,000 per unit. Total project value $468,000.
Investor funds will be paid 12% annual simple interest as used. Prove of availability of funds must be made with a local title company who will make monthly payouts to suppliers and sub-contractors at 90% of work completed and guarantee title with the collection of lien waivers at each payout. The construction period is expected to take four months with refinancing providing return of investment capital within six months. Interest will be paid by a title company or bank monthly on the amount provided.
Those who would like a copy of the plans of the duplex and an isometric drawing of the ICFs can receive a copy by providing an email address to:
[email protected]or call 608-755-1284