1. Business Summary:
Marriott Real Estate Group, LLC is a start-up Property Development Company seeking $50,000 in Funding for Land Purchase Agreement with Owner, Administrative, and Construction Cost of New Single-Family Homes for Resale or Lease.
2. Market Segment:
The Metro Chicago Areas has Seen a Rise of 8.8% in 2020, Highest Since 2012; 2020 Decline Inventory Shows a Strong Sellers’ Market; The Median Sales Price in December 2020 was $266K, Up 12.3% Since December 2019.
Modular Construction has seen a post pandemic rise in implementation due to low employee density through the strategic construction of buildings with a lot of space.
3. Market Analysis:
Existing Homes Sales Has Risen 23.7% January 2020 to January 2021. Permits for Future Housing Jumped 22.5% from Last Year. New Home Sales Up 17.3% From January 2020. The Median Sales Price of New Houses Sold in January 2021 was $346K.
4. Financial Analysis:
New Modular Construction, 1,500 SF, 3BR, 2BA; 15 Acre, 38 Lot Subdivision; Approx. 12,000 SF Per/Lot; Land Cost $750,000.
Estimated Construction Cost, $210K; Market Value, $265K; Soft Cost, $13,500.00.
Approx. 40% ROI, 1-2 Year Term.
5. Current Status:
Domain acquired and Website created; Contacted Modular Manufacturer, “Cross Mod” home designs options. Contacted Landowner, subdivision completed, eager to sell and may accept $722K to reduce per/lot price to $19K. Received Dealer Licensing Information required for the State of Illinois, Registered for State required Dealer Training. Contacted Company for required Surety Bond.
6. Management Summary:
My Experience Includes Over 30 Years in the Architectural Engineering, and Construction Industry providing Management, Design, and Estimating services.
My Abilities will be Supplemented by Professionals in Real Estate, Accounting, and Finance. Professional Architectural and Engineering services will be Procured for Municipal Building Requirements.
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