7 unit Townhome Development

[Kal Shethia]

Hello Everyone,

I am absolutely new to the RealEstate investing world and hoping someone can guide me if I should finalize or walk away with a development deal in MN.

So the lot is for $220k and have plans approved with city to built 7 townhouses, approx 2200 sq ft each. My partner is experienced developer but I am investing the money.

Total cost is $220k for the lot and approx $225k to built each townhome (ofcourse that is just an estimate). 

What will really help is if someone can help with Proforma template to enter all the numbers and get a clear understanding of total investment, profits and risks.

Any help, guidance from anyone will be very appreciated :)