Arthur · 114 units
Location: Vancouver, WA
Farragut, Kenton, Ashley, Fircrest, Livingstone
Watch this project’s journey:
InstagramSee more on this project:
View the projectClient Story · Ridgefield, WA
Jake put $43K down. His first build is worth $1M.
$43.7K
Down payment
$750K
All-in cost
$1M+
Finished value
$150K+
Day-one equity
A year ago Jake was working full time with remodel-trade experience, no development knowledge, and a bank pre-approval of just $200K to $250K, not enough to buy anything in his area. So instead of buying, he built: $43,700 down on a home worth $1M to $1.05M, with a tenant lined up to cover more than half the mortgage.
The first step was a trip to the bank
Jake came back in two days pre-approved for $200K to $250K, which does not buy anything in his area. So we gave him the income number he had to hit, he got serious about his skills, grew his income, and saved the down payment in a year. The plan came before the deal.
The deal: live on one floor, let a tenant pay the mortgage
His first build in Ridgefield is a 4-bed plus office across two living levels. Jake lives on one floor and rents the other, and the rental income covers more than half his monthly payment. Instead of paying apartment rent, he is paying down a brand new construction home worth a million dollars.
The numbers, straight
Land around $200K and a construction budget around $500K put him all in at roughly $750K. The finished home is worth $1M to $1.05M, and the house next door, 200 square feet bigger, sold for $1.15M. That is at least $150K of equity on $43,700 down. Live in it two years and the IRS exempts up to $250K of profit, $500K married filing jointly.
About 70 hours of his time, while working full time
The whole pre-construction stretch, land, underwriting, plans, permits, and financing, took Jake about 70 hours across 4 to 5 months. Two to three hours a week. He used three bids on every trade, and one sub came in more than $8K under the others. Everything signed, everything budgeted, no surprise change orders.
“I didn't really know how development worked. I thought it was way harder than it is. But I learned that it's easier than you think.”
Nationwide
Where our clients are building.
65+ active member builds, 300+ units in progress, across 20+ states. Click a market to see who is building there.
346
Units developing live
49
Markets
Click this market again for the next build here.
See all developments
Your next step
Where are you right now?
New to development
Start with the BuildUp Challenge
A step-by-step challenge to line up your first deal, with our team beside you.
Join the ChallengeLive every week
Join the weekly live masterclass
Arthur and Ruben break down real deals and answer your questions in a live Q&A.
Join the live masterclassReady to build
Talk to our team
Development consulting for people ready to put a real deal together now.
Explore consulting