Justin Wright
Durham, NC (USA)
Role(s):
Founder/Owner/Principal
The Harris Lane Group, LLC
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Startup
Location:
Durham
Industry:
Real Estate
Year Founded:
2012
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
Limited Liability Company
Description:
The Harris Lane Group, LLC is a partnership of the founders of JL Wright Contracting, Inc. and Chase Building Company, LLC. Together we bring over 30 years of real estate knowledge together. We created Harris Lane to be a vehicle to pursue the buying and selling of real estate. This year alone, we bought 13 houses and have sold 9. Three are currently in the rehab stage now and 1 we kept as a rental. One will close January 13th with about a 20,000 Net Profit. We buy through all price points from 15k to 300k or more. In the first 8 houses we did this year, we spent approximately 694,000.00 for acquisition and that generated approximately 280,170.00 in NET profit. That is about a 44% ROI. We primarily buy foreclosures from the courthouse steps, all cash deals. Both of our wives are real estate brokers and are a wealth of information for us. Also we have qualified attorneys on our team to navigate the title work and closings. We are looking to at least double our business in the next year and could easily do so. We watch deals pass by every week that we don't have the liquid capital for and would love to focus our time on finding, renovating, and selling the houses instead of fund raising. We can provide any info you would like, just let us know. Thank you.