When we first started Haselton Phase III, we planned to make it a build-to-rent community.
We were going to entitle the land, develop lots, build houses, and then lease them up, or sell them.
Then the market changed…
Selling Paper Lots
Every 90 days we would revalue, and review our entire portfolio, then we make adjustments based upon the market.
We found out that this project would have a far higher IRR and equity multiple by selling its lots.
So we aren’t even developing Phase III, we’re just selling paper lots.
Selling these lots has given us ten times more than what we put into this project.
That’s the power of being able to pivot quickly.
Next Steps
You can view this projects projected returns, timeline, and other details on our website, by clicking “learn more” below.