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Updated about 2 years ago,
Proposed new build advice
I have purchased a piece of property with a lake view in Nashville IN. Its one of the largest lakes in IN. The dnr does not allow a lot of development so property with a lake view is rare. The property is in a small community where home sales are strong relative to price per sqft. I have planned the build and had it approved through the community architectural board.
The build budget is 380K
The list price will be 599k
The lot cost was 14k
The question I have is, should I list as a new build and have the buyer finance the new build or find an investor to finance the build and list once complete?
If I go with the investor route, what would a good deal structure and terms look like?
Attached is a slide presentation of the deal with cma. Thanks in advance!