Haselton, Gainesville, GA
New Home Construction
Gainesville, Georgia is one of the country’s fastest growing cities. The influx of new residents has caused a local housing shortage. Median home values have been appreciating approximately 7% per year, with the majority of homes priced between $300,000-$400,000. The Haselton Subdivision is located in North Gainesville and consists of 185 raw lots and 72 boat slips with access to the region’s premier water sports venue, Lake Lanier.
This project consists of three phases. ROI Property Group is buying the first phase of 69 lots and building homes on them. A 55+ community is being explored. However, currently the project is not age restrictive. Phases Two and Three consist of premium lots located on the water with superior views. These lots will sell at a significantly higher price than the Phase One lots. Boat slips for these lots will also sell at a premium due to a low availability and high demand for docks on Lake Lanier. The docks will add to the home value immensely and increase absorption.
For investors, a 15% internal rate of return and a 37.5% return on investment over the projected 2.5 year project is expected. ROI Property Group has strong team in place in Georgia as well as significant tenure in the Atlanta metro area. ROIPG has been building new homes successfully in Norther Georgia with The Whitmire Group for many years. Adam Whitmire, the managing partner of the Whitmire Group, has been personally developing land and doing new construction projects in Atlanta for many years. He represents the 3rd generation of Whitmires developing land in this region.
Projected IRR: 15%
Projected ROI: 37.5%
Time Frame: 2.5 Years