Greater Development, LLC, Detroit
WB is a licensed real estate agent who works for Greater Development, LLC and their agents to help analyze and list commercial properties. WB creates pro forma’s and runs return analysis on projects for the agents and their clients. WB also creates marketing content and brochures that are used for listings which are sent to clients. WB specializes in apartment buildings, LIHTC as well as market rate, and land.
Disposed Assets: $47,092,150 Under Contract: $9,550,000
Units Sold: 829
Bloomfield Hills Tax Foreclosure
In the Oakland County, Michigan tax foreclusure, WB was able to pick up a 3,800 square foot lot located in Bloomfield Hills, for $7,200. Once the variances are complete to build a 3 story, 2,200 square foot house, the lot will be worth around $200,000. The variances should take 3 - 6 months to get, and the cost should be around $10,000 yielding a profit of $190,000 before closing costs.
Purchase Price: $7,200 Current Value: $200,000
Colorado Springs 829 Acre Land Development
Currently WB is contracted as a financial analysis and project manager for the development and construction of an 829 acre community near Colorado Springs, CO. WB will take this project from raw land, through entitlements, into land development, all the way to construction until a homeowner is on their land. WB is also managing the pro forma, accounting for cash flows to ensure investors get paid out accordingly.
Equity Raise: $6,500,000 Projected IRR: 55.7% Projected Multiple: 3.13x
22 Acre SFR Build to Rent, Dawsonville, GA
WB created the pro forma and is assisting in the equity raise of a 53 lot, 22 acre land development project in Dawsonville, GA. The property is already entitled and we are going through planning and engineering to start developing the 53 lot subdivision. Once developed, we will go vertical on 53 single family homes that will be available for lease. After lease up we will either sell the properties in a portfolio to a build to rent end buyer, or hold the properties and exit within a 5 year span.
Equity Raise: $2,900,000 Projected IRR: 39% Projected Multiple: 2.81x
New Construction, Napa, CA
WB created the pro forma for a 6 lot development and new home construction project in Napa, CA. The project is being entitled and managed by an operator out of Napa. WB was contracted to determine financial projections and construction margins.
Equity Raise: $1,500,000 Projected IRR: 88% Projected Multiple: 2.04x
Self Storage Development, Dawsonville, GA
WB created and is currently managing the pro forma for a ground up self storage development in Dawsonville, GA. The facility is set to have approximately 639 units on 10 acres of land. WB ran a market analysis to determine what type of storage was most desirable, and then measured rental rates and vacancy by scrubbing online websites and making phone calls. After determining the best unit mix, WB worked with the engineer to mold the property into the strategy WB and the client created. WB assisted the client in raising the capital by showcasing returns and communicating with the investor.
Equity Raise: $1,500,000 Projected IRR: 56% Projected Multiple: 2.05x
Financial Analysis, Real Wealth Network, National Presence
WB works with Real Wealth Network in analyzing properties and screening developments. WB analyzes commercial properties that are brokered to RWN’s members. WB also underwrites and creates pro forma’s for investment funds that RWN is considering to start.
Disposed Assets: $340,000
Real Estate Analysis, The Holt Group
Brady was an employee at The Holt Group, based out of Portland, Oregon prior to starting WB Consulting. Brady was in charge of asset management for one of Holt’s real estate funds that had equity holdings of around $22,000,000. This included maintaining multiple pro forma’s that tracked internal rate of return, along with equity multiple. Brady also was in charge of market research, in regard to tracking new home and land sales.