Fund 8: Construction
Ground floor opportunities for investors with appetites for growth and vision to see the future of their investment. Our construction fund is comprised of 1-4 family properties in need of gut renovations. To learn more about the projected cost and expected return, view the prospectus link below.
Purchase Summary
Purchase Price ………….……………………………………………………………..…..… $2,005,000.00
Unit Renovations/Construction Cost ……………………………….…………..……. $309,000.00
Unit Renovations/Construction Cost (15% Contingency) …………..……….... $46,350.00
Construction Management Fee to Seraphim ………………………………….…… $30,900.00
Title Cost (EST) ………………………………………………………………………….…… $36,100.00
Property Management Boarding Fee to Seraphim Equities …………………... $94,000.00
Finder Services Fee to Seraphim Equities/NBRG ……………………………….. $130,000.00
Supplemental Finder Services Fee to Seraphim Equities ………………………. $35,000.00
Buyers Attorney Fee ……………………………………………………………………….. $10,000.00
Bank Attorney Fee ………………………………………………………………………….. $7,960.00
Appraisal Fee ………………………………………………………………………………… $8,780.00
Survey ………………………………………………………………………………………….. $4,000.00
Architectural Fees/Filing Fees ………………………………………………………….. $44,000.00
Loan Carrying Cost @ 8.75% (Purchase Price) …………………………………… $122,806.25
Loan Carrying Cost @ 8.75% (Construction) ……………………………………… $13,248.38
Loan Origination Fee @ 1% …………………………………………………………….. $16,198.00
Total Acquisition Cost …………………………………...………………… $2,913,342.63
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