$100k+ INTRO FEE TO YOU FOR BRINGING US THE BUILDER BUYER

We purchased this property in Jan and are in the entitlement process right now.  All signs point to yes with the engineering team in place. They have conducted soil, water, traffic studies etc and we have green lights verbally from all parties for the 185 lots, might even have it in writing from the city by the time you read this email.  Est day to break ground is Aug as of right now but our team has already started to rough in the landscape in prep for that by clearing trees.

The typical home in that area would likely be a 3/2 with 1600-1800 sq ft with a retail of 275-300k or so. There are a few lots for higher price points but generally speaking the engineering and plans are all built around that price point.  We've spent about 180k roughing in the road so far and 450k in engineering spent as well.

If the project seems appealing to discuss further we have a few exit strategies we are open to consider. 

a) $6.25M paid at approvals of entitlements. (target early Aug) Must close within 10 days of entitlement or we plan to keep it and go full construction ourselves. Secured with a 250k non refundable deposit. (It will refund is entitlements are not approved)
b) $5.5M Today - pick up where we leave off and handle the rest of the paperwork till approval and we pay off the existing debt on the property.
c) $3.9M Today - you finish entitlement and you pick up the existing debt/loan terms to the seller (1.6M remaining, 0% interest principal only payments of 4k per month direct to seller and balloon due in full June 2025)

Lets hop on and if this is worth exploring further we are happy to send all data or set up a call with engineering team etc. 

Daniel Burke-Aguero - Trailhead Investment Group