eXP Realty | Application Preview
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General Information
Business Registration Number: eXP Realty
Location: Austin, TX, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $100k to $250k
Annual Gross Expense: $100k to $250k
Open to Loans: YES
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Funding Usage
eXpRealty will use the funds to acquire 10 acres of undeveloped land in Lexington, City. From there eXpRealty will obtain the zoning permit from the city allowing it to build the proposed residential community. eXpRealty will procure electrical, water, waste water, plumbing, surveyor and construction services. eXpRealty will build 10 single family homes with detached garages and easement accessible roads then advertise properties for rent.
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Business Plan
eXpRealty will grow the business through the continual acquisition of undeveloped rural parcels of land around the Austin Metroplex. eXpRealty has created a plan to build in the rural towns of Thrall and Redrock, TX within the next five years. eXpRealty will purchase an additional 10 - 55 acres of udeveloped rural land and build two more communities offering affordable-rental single family residences to low to moderate income families. eXpRealty will use its own rental income, public donations and investment loans to fund this growth. Investors and grant administrators should invest funds in our business because we have a one of a kind business plan to serve low to moderate income families currently displaced and burdened by the rising cost of living in the Austin Metroplex area. eXpRealty will develop residential communities close to the large business corporations offering employment opportunities for low to moderate income families in and around the area. Recently the Austin Metroplex has experience tremendous economic and population growth. This growth has increase the cost of living for many of the Austin residents. Many residents who are elderly and family units are unable to afford housing. eXpRealty believes it has the solution to this problem for the displaced and burdened population.
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Self Identified Competition
Avendale builders is the biggest competitor in the market to date. Avendale built rental properties in the rural town of Bastrop, TX. These properties offer one to four bedroom homes with 2 bathrooms and a garage. The properties rent for ($1,495.00 to $3,195.00 p/mo.). These rental rates are equivalent to the current rental rates offered in the Austin Metroplex area and do not offer fenced half acre lots. Lennar builders is another one of eXpRealty's competitors. Lennar offers/sells affordable one to three bedroom single family residences in and around the Austin Metroplex. With the current shift in the housing market and the increased interest rates, these homes are no longer affordable for low to moderate income families. These home range from $262,000 - $320,000.00 making them inaccessible to low to moderate income families. These home do not offer fenced half acre lots of outdoor space. Brohn builders is also a competitor. Brohn offers/sells affordable single family residences to veterans. Low to moderate income families cannot purchase these affordable homes if they are not veteran families. Brohn does not offer fenced in half acre lots. eXpRealty is a small christian business with the solution for the displaced and burdened population of the Austin Metroplex. eXpRealty offers affordable three bedroom, two and a half bath homes with detached garages and a half acre fenced in lot. eXpRealty communities offer country-style living close to city amenities for two-thirds of the costs and two-thirds more living space. eXpRealty builds efficently by offering only five home designs, utilizing in-house home builders and roofers to minimize cost.
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