Scott Murray
McLean, VA (USA)
Role(s):
Founder/Owner/Principal
Like-New Homes
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Startup
Location:
McLean
Industry:
Real Estate
Year Founded:
2010
Number Employees:
1-10 people
Description:
"Like-New Homes, LLC", a residential real estate investment and renovation company based in McLean, VA, plans to commence operations in January 2011 and reach $30 MM in annual revenues within five years.
The founder and managing director of Like-New Homes is currently a division president for a national home builder; he has a BS in construction management from Brigham Young University and an MBA from Harvard Business School. He has over 10 years of full-time experience in residential real estate and 5 years experience managing and growing start-up operations.
The company seeks to raise $1.6 MM in exchange for equity. Over the course of six years, investors can expect to enjoy a 39% leveraged IRR and an investment multiple of 5.3. Due to the company's very low overhead structure and the fact that well over 90% of the funds raised will be invested into hard assets that have a fairly liquid market value, the investment risk of this business is exceptionally low for a start-up.