Western Dakota Condominiums Inc
$14M equity request for 504 new housing units in high demand, high growth, low inventory market. 99/1 Investor/Developer Cash Flow Waterfall model w/ 62% IRR.
- Stage Full Product Ready
- Industry Real Estate
- Location Bismarck, ND, USA
- Currency USD
- Founded August 2014
- Employees 0
- Incorporation Type C-corp
- Website http://David Lamb @ Linkedin
Company Summary
Company mission is to provide affordable entry level 1, 2, 3 bedroom housing in the city limits of Dickinson, Watford City, Tioga and Minot, North Dakota. Buildings were build five years ago. Condominiums will be priced under $150K and come with appliances, 1 and 2 car garages plus amenities. Conventional, FHA (3% down), VA (0 down), USDA ( 0 down) approved and seller financing available with 20% down payment and income qualification.
Team
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Managing PartnerEntrepreneur; Real Estate - Experience as a broker, a lender, in acquisitions, sales, marketing, as a home design build contractor, in condo conversions & property management; also in training & sales of a state-of-the-art municipal wastewater treatment system; as well as, experience in Middle Market commercial lending and correspondent banking disciplines developed at National City Bank. Credit training at Union Commerce Bank, Cleveland, OH.
Advisors
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Bill PankoninUnconfirmed
Previous Investors
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Bill ReimerUnconfirmed
Ryan KingriderUnconfirmed
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