You are here

CommentsPost comment


Potential Investor on May 25
It appears that the only variable affecting the ROI is the sale price. If there are 21 lots sold at a net price of $343452 ( the $6869036 used in several proformas in month 10/1/17 )what would make the remaining lot prices go down so much? Also what triggers the 10/1/2017 closing? I assume it is completion of work. If you close on the ground May 1 can you complete by 10/1/2017 ? I assume the development costs are fixed at this point. The inflow of investor funds is staged over 3 months, March, April and May. Please explain.

Potential Investor on May 25
Thanks for your questions. We have addressed them below: 1. The remaining lots are lots that are not on Golf Course or Green Space frontage, thus the lower pricing. 2. Lot Closings are triggered by Final Plat Recording, concurrent with all the construction improvements being finished, approx Sep/Oct 2017. 3. We are already starting construction, they will take approx. 4 months to finish, weather can always be a delay but it is summer season, costs are fixed as well as they can be based on real bids from our general contractor, General is a 60 year old company with reputation, relationships and experience with all of our team. 4. Developers have over $1.6M in costs already incurred in the entitlements and work over 3 years, the returns are very good at current absorption assumptions which are very conservative based on our market in the area.

Mark4Fund paid a fixed listing fee of $3,000, and has no future obligations