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Investing in Turnkey New Construction

Lance Longgrear - Friday, May 24, 2024

 In May 2022, Hyundai Motor Group Metaplant of America announced that they would be constructing an electric vehicle manufacturing plant in Ellabell, Ga that would create over 8,000 jobs on site and over 14,000 total new jobs. This development was expected to catapult growth in North Bryan County.  In this article, JDA project manager Eric Johnson speaks about the impact.  All of this seemed like an opportunity and we had a wild dream to develop and build houses for rent in Ellabell Georgia.

In October 2022, Hyundai broke ground on the Metaplant site. The housing market soon skyrocketed and interest rates started to increase dramatically. As these economic developments came to fruition, the vision for the Pembroke Pines Development  became clear— to build investor minded rental properties in Pembroke that provide long term cash flow by deferring capital expenses and maximizing profits. Below find 3 ways we see value for investors at Pembroke Pines: 

HMGMA - Hyundai Metaplant

Sitting on almost 3,000 acres, the Metaplant is expected to create around 8,500 on site jobs and around 15,000 jobs total in the area. It is expected to catapult growth in North Bryan County. The Pembroke Pines development is just ~10 miles from the Metaplant. This insulates investment risk and guarantees a fast growing housing demand for the foreseeable future. 

Trip Tollison, President and CEO of Savannah Economic Development Authority, commented on the Hyundai Metaplant stating, "Steady growth is one thing, explosive growth is another. When you add the Hyundai Project that was announced last year, it really turned it from steady [growth] to explosive growth."

Here, on WTOC, Tollison is speaking as the HMG project is nearing the start of production. With a Fall 2024 expected production start, hiring has now begun, and all levels of workers will be showing up soon.  This article is an example of a May 2024 job fair.  These new and future jobs create a need for rental houses near Ellabell and Pembroke.  

Built by Investors for Investors

Investing in new construction rental properties allows an investor to defer large expenses (new roof, hvac, fence etc..) while having a top of the line product to offer tenants. This leads to lower expenses, top of the market rent, and maximized profit for the first 8-10 years of the investment.  I would expect that supply & demand will drive value appreciation over the next 10 years as well. 

Each house in the Pembroke Pines Development was designed for durability, to save you money. LVP, Granite countertops and vinyl siding were chosen by the investor who built these homes. This should lead to a decrease in maintenance costs!

Forefront of growth

Economic advancement is coming to North Bryan county. There is no way around it. A 500 acre mixed use development is currently being pitched to Pembroke’s planning and zoning committee. It would create over 2,000 homes and multiple commercial spaces. Another developer proposed a 272 home development to the same P&Z committee. Growth is coming, it is just a matter of time. These future developments are, to some degree, held up due to limited sewer permits.  The City of Pembroke is currently in the process of expanding its sewer capacity.  Because Pembroke Pines was at the forefront of growth, we were able to get sewer permits before the last few were taken.

The Pembroke Pines Development is in the middle of what I like to call the “Tunnel of Economic Advancement.” Wedged between Fort Stewart and the Hyundai plant, 30 miles from the Port of Savannah and just 5 miles off of Interstate 16, growth is bound to travel down the tunnel. This growth should translate to appreciation in home value, rent rates and overall demand. 

It is widely known that the most successful investors are able to disengage from current circumstances and invest into the economic future. Not only next year… or the following year… but 10, 20, 50 years from now. It is easy to get caught up in escalated interest rates, highest home prices in history, and the constant “noise” that makes it hard to see the value in current investment opportunities. “I will wait until rates dip down then jump in.” I have thought the same thought. “The economy is unstable.” Agreed. “Cash flow is tight, I don’t see the returns with current interest rates” All Distracting noise and limiting beliefs!

I genuinely believe that the best time to invest is when everyone else is hesitant to. Swimming upstream often leads to flourishing. Jumping into the uncertainty and embracing the uncomfortable feeling can open doors (and returns) unimaginable. It is easy to say “next year.” The best time to plant a tree was yesterday, the next best time is today. The best time to invest in Real Estate is the same. 

The Pembroke Pines Development originated with a hope to bring sustainable and real value to investors.  That will continue to be our goal throughout this project. Give me a call, I would love to help you drown out the noise and step into the uncertainty that leads to exceptional returns. 

Lance Longgrear

Realtor - Disciple Real Estate

(912) 312-0697

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