Management believes that there currently exists an opportunity to acquire parcels of real property in the United States at advantageous cash pricing and with its proven expertise and operating knowledge, develop these properties into single family and multifamily housing at significant profits.
The Company intends to utilize its expertise as a leading developer to acquire and develop assets during what it perceives as rising markets in growth areas of Texas, Florida as well as additional target markets including New Mexico and Tennessee. Management is of the opinion that timing constraints on the supply of residential real estate in these states are creating opportunities for JMJ as a developer to continue to develop sound value for its investors for the foreseeable future.Investor demand has created a gap in supply and residential buyers entering the market in 2018 are encountering rising prices due to limited inventory and competition from increased demand by other home buyers. That demand trend was strong in 2017 and the trend is expected to continue in 2019 and 2020. JMJ has the unique experience as a developer and investor to identify properties of the highest value utilizing its expert management team to source, acquire properties and develop assets yielding exceptional returns with what Management perceives as minimum or measurable risk.
While the economy in the United States continues strong, the opportunity to buy real estate properties throughout North America currently exists and residential and multifamily developers are experiencing record profits. JMJ will use its development and investment experience to focus on acquiring land for the development of single family residences and performing multifamily assets only in geographical areas where it has had extensive, profitable success and where it has the background to understand and measure both timing and profit risk/reward ratios.
The Company may participate in joint venture activity with other builders that may provide a value-added factor either through property ownership costs or unusual knowledge of a geographical area. The investment in these projects will be approved by a select management committee including outside members of the Company’s Board of Directors.