Got this in my mailbox:
This is the Redfin link:
Lot is only 10K, pretty small to put 4 houses on. What do you think?
Do you like the T cut homes? Do you believe in Feng Gui?
Price is wrong, that's why it's still sitting there.
Pending! Which one of you bought it?
I reported that project years ago, it was the best time to have had a unit there. You have Santana Row a couple of blocks away, walking distance. And the mall right there on your nose.
Look familiar https://www.arondevelopers.com/projects/356-cypress-ave ?
I have been talking with them about investing in some of their projects. Good people with interesting projects. Feel free to check it out and happy to introduce to the guy behind it if you are interested in talking to them.
So Aron Developers is buying the site? Or are they the seller?
They are buying the site as far as I know.
Are they syndicating the deal?
I am not sure on this deal, but I am guessing so. They used to use RealtyShares and such to fund their prior deals, but lately they have local investors as preferred equity or limited partnership to fund those. This one is their current open-ended fund: https://www.arondevelopers.com/offerings/aron-capital-partners-fund-2
Finally sold. 1.6M. They first listed it back in Jan 2016! Initial price was 1.8M. So that's 200K below asking.
I am curious on how much those houses will come back after built? 1M?
So 5.2M gross
That’s pretty awesome. Start to finish in one year?
More like 1.5 I think, move in Feb 2018. These guys are pretty good. Have you looked at their projects?
No. You have link?
https://www.arondevelopers.com/projects. They provide a timeline of each project.
Interesting. They have crowdfunding to raise capital. Serious pros.
I am friend with the founder, and investor with them. Good group of people, very data driven and focus on improving their execution.
What is investment model? Preferred equity or Interest only? what is the your avg returns? how frequently do they pay? is it balloon?