I will give you all the steps to the strategy that I am using to build my portfolio using New Construction development. A little-known fact is that it is easier to qualify a retail buyer for a duplex than it is to qualify them for a single family house! Lenders add the income from the other unit(s) to a home buyer's income to qualify them for the property. Making home approvals more attainable.
When purchasing land there are a number of mistakes that could be made. You need to identify the correct zoning requirements, the correct dimensions, the correct location, and you have to understand what will give you the highest and best use. I will teach you everything you need to know to make the right choice. I will also show you how to get the funds to purchase land.
Deciding what to build is a critical part of the process. If you don't get this right it will be very costly. Do you know how much to pay for plans? How to read plans? How to develop a budget? These are all questions that I answer.
If you pick the wrong builder your project could end up dead in the water. Have you ever seen those abandoned half built buildings on the side of the road? In most cases the builder or the developer ran out of money. I will help you to avoid this mistake. You do not have to know construction trades to manage this process.
Once we have a project completed it is time to cashflow. You will learn potential exit strategies as well as tax strategies that could save you thousands of dollars on your next tax return.
I Currently Have The Highest Duplex Sold To Date In North Houston Texas. I Recently Completed Another Duplex For AIRBNB. This Project Sold For 50K Over Any Comparable In The Area.
This was the second project of a two phase development. The first duplex on this lot was also sold for a record number at the time. The appraisal came in at 298K and I sold it for 398K.
Look at the profit after just two years of appreciation! This is what is called an actual HUD statement showing the actual profit. I have receipts. I'm not one of those internet Gurus.
This was my very first project. I acquired business credit, bought the land, and hired a builder to build the project from the ground up. I was able to make a killing on Airbnb for several years then I sold it to roll the profits into my next project. Look at the profit after just two years of appreciation! This is what is called an actual HUD statement showing the actual profit. I have receipts. I'm not one of those internet Gurus.
What do former students have to say about the information?
Lavon is currently the Mortgage Broker / Owner of Multiculture Mortgage a Houston-based mortgage company offering a wide range of lending products to new homeowners and investors throughout the Southeast Coast.
He is also an active Real Estate Investor / Developer / GC building wealth through multi-family housing in the Houston area.
Lavon has an extensive background as a Senior Software Engineer for over 20 years, acquired his Mortgage Loan Origination license back in 2019, then went on to get his Mortgage Broker license in 2023.
He has been in and around Real Estate investing and finance since 2002. A proud father of 3 beautiful girls and a husband of over 13 years.
If You don’t have a mentor you have found one!
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Please join my next webinar where I will break this whole thing down. Give me your email and I will send you an invite link.