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Example of a current project
Cost
of Land Purchase |
$475,000 |
Cost
of building 13,390 sq/ft, complex as a turnkey Exercise including site
work and hook ups |
$1,275,000 |
Total
Estimated Cost |
$1,750,000 |
Initial
deposit for construction loan @ 10% |
$127,500 |
Approx
Interest on construction loan over 9 months |
$105,000 |
Income
from sale of all units@ $230 per sq ft |
$3,012,750 |
Realtor
Commissions on unit sales @ 6% |
$180,765 |
Approx
Closing Costs |
$15,000 |
Approx
profit from the sale of all units |
$961,985 |
Units Rent for $27 per square foot per annum, total yield from rentals $361,530.
Whoever buys the units (or if kept pay) the USA impact fees of approx $7,000 per unit