Multi-family home developments are opportunistic real estate investments . For these projects, we build brand-new multi-family apartment buildings from the ground up.
Legacy sources funds from multiple investors, which allows you to own a piece of a multi-million-dollar property without the financial burden of funding the development on your own.
Multi-family buildings with fewer units are in greater demand than larger apartment communities, so Legacy focuses on developments of this size. This also helps us to shorten timeframes, which limits risk. These projects range from 18-24 months, which makes this the perfect opportunity for investors looking to grow their money without tying it up long-term.
Because of the substantial value added by building from the ground up, Legacy’s multi-family developments historically have some of our highest yield returns.
Our multi-family floor plans are in exceptionally high demand, making it easy to find a qualified buyer for a quick sale once the development is complete.
This investment starts by finding the right lot to build on. In some cases, we find suitable vacant lots, and in other cases, we purchase a lot with a distressed single-family structure that can be demolished to make way for the multi-family structure.
We negotiate to buy the chosen property under favorable terms. We strive to get the lowest purchase price so that we have the greatest possible profit margin to work with. With our established relationships with local lenders, we can get better terms and lower interest rates on our construction loan. Because we build multiple properties each year, we are also able to negotiate favorable discounts on labor and materials for the construction.
When our real estate experts are satisfied that we have a winning property for our investors, we open the LLC in which the property will be held, secure the financing, complete all title and escrow documents, and successfully close the deal.
Legacy’s multi-family developments are designed to meet the unique needs of today’s buyers and renters in growing metro markets.
When the designs are complete, we begin the permit process. Once the building permits are approved, our construction team can get to work building the structure on the prepared lot in accordance with the architect’s design.
When the construction is complete, we stage the home, take final photos of the property, list the property on the market for sale, and advertise it to qualified buyers.
A home development project takes approximately 18-24 months. The timeline starts the day we open escrow for purchasing the property, followed by designing and permitting, construction, and then finishing with the property sale. Once the property has sold and escrow closed, Gatsby sends the disbursements to investors within 30 business days.
All investment opportunities are offered directly on the website under the tab “Invest” when clicking “View All Investments.”
You can click on an investment project to view detailed information about each specific deal, such as property address, financial breakdown, estimated timeframe, investment strategy, area comps, and photos of the property. There is also an ROI calculator feature available on each opportunity that states the minimum and maximum investment available. It allows you to enter an investment amount, and calculate your estimated target share in the property, ROI, and projected return.
Placing an investment is easy! You will be guided step-by-step to finalize your investment request on the website. When your investment has been placed, you will be given the wire transfer and ACH instructions. You will then have five business days to send the funds and secure your place in the investment.
Once the investment is active, you can track your investment from start to finish through the user-friendly online dashboard where we display the project’s progress bar and upload progress photos of the renovation and new construction. We also send email updates when the project moves from one status to another.
When a project is completed and sold, you will receive your disbursements via wire transfer. After receiving the funds, you can enjoy your proceeds or look for new investment opportunities to continue to grow!
CONTACT US
info@legacyprimeproperty.com
615-610-0885
1661 Burdette Drive #A
San Jose, CA 95121
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