I’m looking for $5 million first-in money to acquire the property, obtain an ALTA survey, and contract for comprehensive land planning, engineering, and budget development. We estimate a total of 500 tiny home lots, 100 RV park rental slots, and a beautiful wedding venue with a chapel, reception hall, and a winery tasting room/wine bar. The property has nearly 20 acres of lakes, hundreds of live oak trees, a very large community pool with a bathhouse, a tennis court, and an older clubhouse building.
I’m offering one of two investment options: a first-position deed of trust accruing simple interest at 10% broken into five $1 million notes. Each note must be paid off before lot deeds are transferred to individual lot end users. The project will involve five phases of lot sales. In addition, this structure will involve a 5% equity ownership stake in the development company. This entire project will be capital gains tax-free because it is in an economic opportunity zone. Our initial projected profit is approximately $20 million net from lot sales. The ongoing revenue from RV lot rental and wedding venue proceeds will provide long-term continuing revenue for our partners in addition to various tax benefits.
An alternative structure would be a direct equity investment and receive a 20% equity share of the project. We can provide a pre-endorsed deed held in escrow, assigning the property back to the equity investor if the project doesn’t move forward.
For more information, please contact me directly: Joseph Stancil – joseph.stancil@exprealty.com – (512) 962-0368