About The Property

Elk River Country Club

Elevated Developments is raising capital to acquire Lot 31 Elk Knob Drive in the Elk River Country Club Community of Banner Elk, NC. The land is being purchased for $120,000 , which is an attractive basis for Elk River real estate. The Target Annual Return on Investment for investors is projected at 27.2%, inclusive of an 8% dividend paid monthly.

The to-be-constructed home will contain approximately 5,400 sf of living space consisting of 5 bedrooms, 5.5 baths, flex room/bonus room, a three-car garage, a pool and pool house and an outdoor kitchen/living area with high-end finishes, consistent with the market. The home will offer incredible views and sunsets over Tennessee from the second level. The above-described home is currently being designed by our preferred architect and will be fully complete and engineered and in for permitting prior to closing on the land.

A first draft of the home, floor plans and finishes are included in this presentation.

We are seeking $400,000 to acquire the land and construct the above-described homes. Elevated Developments will obtain debt financing for the remaining capital stack at 70% LTC / 60.3% LTV. The full sources and uses of funds and projected profit is described below (Excel proforma with all the details is available upon request).

The Project is located in the Elk River neighborhood of Banner Elk, NC, approximately 3.5 miles from the Beech Mountain Ski Hill.