Northwest Indiana Infill Development
Investor Opportunity
Scalable Build-to-Rent Duplex Model
Fircrest Duplex Development
Ground-up duplex infill project in Northwest Indiana, currently in pre-construction. Designed for long-term rental or flexible exit depending on market conditions.
Fircrest Duplex — Project Overview
PennyReady Ventures is advancing a ground-up duplex infill project in Northwest Indiana. We’re finalizing land control, construction pricing, and the capital structure for a clean execution plan.
We work with a small number of aligned partners per build to support clear communication, cost control, and flexible exit options. This page is informational only and intended to support discussion—not solicitation.
Why Build-to-Rent in Northwest Indiana
Northwest Indiana benefits from Chicago proximity, diversified employment, limited new construction, and steady demand for modern 3-bedroom rentals. These conditions support durable occupancy and predictable operations for well-located infill builds.
↗Chicago spillover & regional migration
Households looking for value, space, and lower cost of living continue to support rental demand across key NWI submarkets.
🏠Limited new supply
Modern small-scale new construction remains constrained in many pockets, supporting competitive leasing when product is delivered well.
🛏3-bedroom demand
Family-sized layouts tend to show stronger tenant stability and lease retention in suburban communities.
⚙Diverse employment base
Healthcare, logistics, education, manufacturing, and regional industry contribute to ongoing renter demand.
📈Rent resilience
With supply lagging demand in many areas, rents and absorption can remain steady when the local product mix is undersupplied.
🗺Access without Chicago pricing
Tenants gain proximity to Chicagoland jobs and amenities without the same housing cost base.
Fircrest Duplex Investment Snapshot
A ground-up, new-construction duplex in Northwest Indiana built using our repeatable, cost-controlled infill development model.
New-Construction Duplex
~1,500 SF per unit · 3 BR / 2.5 BA
Attached garages · Modern layouts · Optimized for long-term rental durability.
Project Economics
Construction cost: $160/SF
≈ $480,000 total hard costs
Projected combined rents: $4,200–$4,800/mo
Investor Partnership Structure
10% Preferred Return
60/40 equity split (Investor/Sponsor)
Investor funds hard costs · Sponsor covers soft costs & GC oversight
Development Plan Set
Standardized plan set used across our NWI infill development model: elevations, floor layouts, and structural sheets.
Northwest Indiana Duplex Investment Opportunity
Scalable infill development model with strong rental demand, controlled construction costs,
and long-term BRRR-driven investor upside.
Download Investor Prospectus
Investment Terms & Capital Stack
A simple, investor-first model built for repeatable Northwest Indiana infill development. Investors fund the construction budget, the sponsor contributes soft costs and management, and land is secured through creative acquisition strategies.
How the Capital Structure Works
- Construction Funding: Investors provide the hard construction capital (labor, materials, site work).
- Soft Costs: PennyReady Ventures contributes planning, permitting, engineering, coordination, and project oversight.
- Land Strategy: Lots are secured through options, assignments, off-market opportunities, or partner contributions.
- Preferred Return: Investors earn a 10% annual preferred return on invested capital.
- Equity Split: After the pref, cash flow and equity are shared at 60% Investor / 40% Sponsor.
- BRRR Exit Strategy: Build → Lease → Refinance → Hold. Refi returns the majority of investor capital.
- Asset Protection: Each project operates within a dedicated single-asset LLC.
At-a-Glance Investor Terms
• Preferred Return: 10% annually
• Equity Split: 60% Investor / 40% Sponsor
• Capital Contributions: Investor funds hard costs; sponsor funds soft costs
• Land Strategy: Options, assignments, partnerships, off-market acquisitions
• Strategy: Build → Lease → Refi → Scale across NWI infill lots
• Security: Each project uses a dedicated single-asset LLC
BRRR Strategy & Project Timeline
A clear, repeatable execution plan following the proven BRRR model. Each project is built on a controlled infill lot in Northwest Indiana, enabling efficient replication and strong long-term returns.
Lot obtained through option agreements, creative financing, or on-market acquisition. Finalize due diligence, plans, engineering, and permitting.
4-6 month construction window using a proven duplex design. Vertical build, MEP trades, roofing, interior finishes, inspections, and certificate of occupancy.
Market and lease both units. Stabilize at projected combined rents of $4,200–$4,800/month depending on the specific NWI submarket.
Refinance using DSCR or conventional products. Return investor capital while maintaining long-term equity, cash flow, and portfolio scalability.
About PennyReady Ventures LLC
PennyReady Ventures is led by Northwest Indiana real estate professional John Schmoeger, focused on building conservative, relationship-driven real estate investments while helping people live more comfortably.
Local Expertise · Investor-Focused Execution
With deep roots in Northwest Indiana and Chicagoland, PennyReady Ventures was built around a simple mission: deliver better housing outcomes while creating transparent, risk-conscious opportunities for investors.
John brings hands-on experience across acquisitions, new construction, rental demand analysis, property resale, and operational oversight through every phase.
- Licensed Realtor® serving Northwest Indiana families, seniors, and investors
- Specialist in probate, senior transitions, and corporate relocation
- STR / MTR consulting experience and portfolio setup
- Local rental expertise across Portage, Crown Point, Valparaiso, Michigan City
- Hands-on involvement from acquisition through lease-up
Who You’re Investing With
A local operator who lives and works in the same communities where projects are built.
• Real Estate Practitioner: Active in the field daily, understanding buyer, seller, and renter behavior.
• Niche Experience: Probate, senior housing, corporate relocation, STR/MTR markets.
• Alignment of Interests: PennyReady Ventures contributes soft costs and long-term execution alongside investor capital.
• Guiding Principle: “I love helping people live more comfortably.”
Informational only. No offer or solicitation to invest.
Why Our Infill Duplex Model Is Safer
We build new-construction duplexes on strategic residential infill lots across Northwest Indiana. That focus reduces “unknowns,” improves cost control, and supports predictable long-term performance.
-
Lower land basis via creative acquisition
We target overlooked or discounted infill parcels (options, assignments, partner contributions), improving the equity position and lowering total basis.
-
Execution control = fewer surprises
Clear scope, milestone-based capital deployment, and tight field oversight help keep budgets and timelines aligned.
-
Repeatable plan set
A standardized duplex design reduces architectural variables and supports smoother permitting, consistent material ordering, and repeatable build workflow.
-
High-demand rental product
3-bedroom layouts with garages and modern finishes consistently attract stable tenants across key NWI submarkets.
-
BRRR-aligned refinance support
Recent duplex comps and conservative underwriting help support refinance outcomes and capital return once stabilized.
-
Project-level structure & reporting
Each build runs in a dedicated single-asset LLC with a defined communication cadence and milestone tracking.
Next Steps for Interested Investors
After reviewing the investor packet, we follow a simple, milestone-driven onboarding process designed to align expectations and maintain clarity throughout the build.
Intro Call
Confirm goals, project fit, and investment objectives.
Review Structure
Walk through capital flow, ownership, timelines, and reporting cadence.
Capital Deployment
Funds are released in phases tied directly to construction milestones.
Build Updates
Receive progress photos, budget tracking, and timeline reporting.
Refi + Cash Flow
Participate in refinance, capital return, and long-term rental income.
Capital Partnership Pre-Qualification
This project is structured for a small number of aligned capital partners. Complete the short intake below so we can confirm fit for the June 2026 build and share the current underwriting packet.
What This Project Provides
The Fircrest Duplex is a new-construction rental investment in Northwest Indiana. It features two ~1,500 sq ft units with 3 bedrooms and 2 bathrooms each, designed for long-term rental demand and BRRR-friendly valuation.