Here is the thing. Constructing FSP Tower will likely take 12-18 months to build, and will cost about $32,000,000. This will leave $3,000,000 of the budget to acquire the phone numbers I will want (377 7368). My hopes will be to acquire a 412 number, a 724 number, 8xx and an 878 number. I will also need to be able to pay employees and keep the lights on. However, I will suspect that I would reach full occupancy within a few months as the knowledge for a very new and nice apartment building available for rent, and support low income housing solutions. There will eventually be wait list, and the queue will be needed to display so people can see how far they have. This could allow them to make decision. Nonetheless, all units will be filled, and FSP Tower will be generating more than $1.2 Million. This is not a typo, and it is the monthly income. $300,000 per month will be taken out for taxes, and I will suspect that the building will have a cost of $50,000. This will mean about $850,000 in pure profit.
Eventually, I will like to invest in a second tower, although probably not as tall as the Tower. I will make decisions on what type of apartments I will want in a second building. This will take a number of months saving as I wouldn’t want to build the building with a construction loan, and then a mortgage. Obviously, a second building will generate profits of maybe about $150,000 per month. If so, that could be $1,000,000 per month while not having any loans to contend with.