Haselton Phases I & II were originally planned to be a build-to-sell community.
We were going to build homes and sell, but obviously the market has changed since 2023.
In 2024 builders are paying a huge premium for lots.
Selling Finished Lots
Selling lots allows you to get out of a project earlier, reduces your risk, and because we’re selling at a premium we’re often able to meet or exceed our original projected IRR.
Ultimately we’re selling this project somewhere in the middle of year two, with all the entitlements and permitting completed in year one.
During development, we were approached by a national developer to purchase all 3 phases of this project.
We underwrote the deal and the numbers looked great, so we’ll be able to exit this project with some great returns.
The Ability to Pivot
I’m not only the fund manager, but also the developer.
This not only gives us the ability to control pricing and share fees, but it also allows us to pivot.
Remember this was originally going to be a build-to-sell project, but the market changed.
We saw an opportunity to sell finsihed lots, and we took advantage of it.
Next Steps
You can view this projects projected returns, timeline, and details on our website, by clicking “learn more”.