Steeple Chase, Hoschton, GA
New Home Construction
The Steeple Chase project is also focused on the lack of housing in the beautiful communities of North Georgia. 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-story and two-story homes, each with three-car garages. Some homes will include full unfinished basements while the remaining homes will be built on raised or slab foundations. Home sizes will range from 3,000 to 3,500 square feet with targeted prices between $450,000 and $500,000.
This project is unique because the owner of the land is not requiring payment for the land until a home is built and sold. Using a strategy of leveraging the land against the loan, low-cost debt will be used to build the homes, increasing overall project profitability.
For investors, can expect a 15% internal rate of return and a 23.5% return on investment over the projected 1.5 year project. ROI Property Group will be teaming up with The Whitmire Group to produce these homes.
Projected IRR: 15%
Projected ROI: 23.5%
Time Frame: 1.5 Years