Diversification of Assets

Diversification of Assets

At reVISION Masters, we are constantly monitoring our submarkets, path of progress areas in and around our submarkets and where supply and demand imbalances exist.

John Monteiro, BS Economics, MBA and I, along with our partners Patrick, Ben and Graham, have been researching and tracking the demand for workforce housing B2R. In the path of progress areas like NE of Dallas, NW of Houston and South and East of Austin, B2R and affordable B2R subdivions are popping up.

We have two locations along the I75 corridor between Allen and Sherman, TX that we have under contract to build out pre-manufactured B2R communities. Each community will be fenced and have separate yards, dog parks, leasing center with pool and fitness area, along with covered parking available. I was skeptical, when we first looked at pre-manufactured housing, but was pleasantly surprised after visiting one of the largest manufacturers located outside of Ft. Worth and publicly traded. Their facility was state of the art and incredibly efficient.

For those that have not looked at this model, if you can get the entitlements and utilities, the carrying costs are far less than a multifamily project. For example, delivering 10 -15 units per month gives you the ability to immediately lease them out vs. waiting on a certificate of occupancy for a wrap MF product or a building that may have 50 units in it. There is virtually no down time once they are delivered, secured, fitted with central air and have all of the utilities hooked up to them.

I have attached a short video of the tour we had through one of the facilities. Expect to see more about the economics and why we (in addition to buying existing MF and developing Class A MF) like having the diversity of affordable workforce housing in the same path of progress markets as our MF projects.

#B2RDevelopment
#multifamilydevelopment
#workforcehousing
#revisionmasters

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