2001
$1.5 Million

Shaffer Development began in 2001 by purchasing duplexes in the city of Cedarburg with no money down.  Shaffer renovated these run down rental properties and converted them to individual condominium units. 

This outcome was beneficial to all concerned by increasing the tax base for the city of Cedarburg, and providing a needed source of housing in a moderate price point for owners. The positive cash flow allowed the acquisition of over five properties and provided the equity to invest in larger development projects.