Steeple Chase, Hoschton, GA
New Home Construction
We’re continuing to focus on the lack of housing in the beautiful communities of North Georgia with the Steeple Chase project. This project consists of 3/4 to 1 acre homesites located in Hoschton, Georgia. This beautiful new community will consist of craftsman and ranch style homes constructed with a combination of brick or stone, cement siding, and wood accents. There will be both single and two-story homes with three-car garages. Some homes will include full unfinished basements while the remaining homes will be built on slightly raised or slab foundations. Home size will range from 3,000 to 3,500 square feet with targeted prices of $450,000-$500,000.
This project is unique because the owner of the land is not requiring payment for it until the home is built and sold. This enables us to leverage the land against our loan and therefore use low cost debt to build the homes.
For investors, we are projecting a 15% internal rate of return and a 23.5% return on investment over the projected 1.5 year project. We will be teaming up with Adam Whitmire and his team to produce these homes.
Projected IRR: 15%
Projected ROI: 23.5%
Time Frame: 1.5 Years