This seems to be one of their projects.
Great flip. Can’t get 7k lot for 950k anymore.
These guys are really interesting. If I read it correctly they offer both debt and equity investments. That seems a better way than doing flips myself. They are local so at least I can go visit the work site to make sure it’s not a fly-by-night operation.
Preferred equity. Return varies from project to project, but mostly > 15% (I didn’t participate in all of their previous projects)
Yea, that’s exactly one of the reasons. I have visited their sites more than once before I invested in them. Just a chance to learn more about ground-up development, you can subscribe to their weekly newsletter and follow their progress on different projects. Lot splitting was their niche, but now onto multi-units development.
OK. I just signed up to learn about them.
Thanks for the info
From Aron’s newsletter:
3 of the 4 Cypress homes are Sold Earlier this week, the sale transactions for the 3 of the 4 homes at our Cypress project in San Jose closed. The addresses are 358 Cypress, 360 Cypress, 362 Cypress. The sale prices were $1.48M, $1.42M and $1.4M. The 4th Cypress home will come on market on August 22, 2018 and we expect it to sell shortly after that.
So they should clear 5.7 to 5.8M total. Net is north of 2M?
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And they are competing with @ptiemann:
New Acquisition We are in contract on a project in Sunnyvale where we will be combining 2 parcels and building 7 new homes in small lot configuration. We have submitted a preliminary application with the City of Sunnyvale and once we have done our diligence, will share further details with everyone.