All Forum Posts by: Alex V.

I have a project in the core development area of Annapolis, MD. It’s 240 units and we are very close to SDP approval with the county. Could start construction by mid/late summer realistically. Looking for help connecting with the right personnel to bring the deal together as I and my partner only have so much to invest to bring it to life.

Much appreciation to anyone whom can help point me in the write direction.

Alex

I have a subdivision in Maryland that I’ve been developing for the past year. Should be permitted to install road and SWM infrastructure by summer 2025. Wondering who does horizontal lending on something like that?

I could complete the main road in phases, build 2-3 at a time (could do more really as we have 15 right now actively being built but realistically not sure how fast it’ll sell. I’d think it would sell reasonably quickly given where it is located. 

I also have this same question about a Multifamily deal we have where we will need to purchase land before approvals.. you’d think being in this as deep as we are we’d know this answer but, it’s actually proven to be a pretty difficult thing for me to come across even with speaking to several people in the industry.. my own mother is 32 year lender. Not kidding. Without permits your pretty much up the creek and have to fund with your own cash. It’s been that way on several of our deals for years. And in fact, we are just sitting and holding onto lots until they are able to be fully permitted already as is. And in some counties , it can take 4 or 5 years for a simple single-family home as is the case on these waterfronts in Annapolis. I would be elated to find a lender that was going to work with us.

Good morning,

Wondering if during the last down turn, or any down turn at all, did “land only” values fall very much? God only made so much of it after all.

I’m speaking more specifically about “buildable Lot” land values in an area that does not have copious amounts of new land being developed. Supply and Demand. This area also happens to be a suburb of DC and Annapolis, MD.

I’m in a position that I am intending to build a new home for myself. I am paying “cost” meaning builder level cost for material and minimal average labor costs with no profit for the builder of record. And that’s because I am the builder of record myself and I will be taking my profit when I go to sell the house years down the road.

There was $325k in actual profit potential on this deal before the virus hit. I realize it may go down from there, but I doubt very seriously the material cost will be majorly impacted in a negative manner for us. So buying at rock bottom prices all the way around the table, including the land, (I’m under contract 40k less then the appraised value)...where can I lose if I’m building at cost?

-So I’m wonder what people’s thoughts are on this if you were in the same position, would you move forward and build the home?

-Do you see a potential loss occurring?

-In land value or on the sticks and bricks of the home?

Thanks for the input!