All Forum Posts by: Steven McKinlay

They are taking over the project from another development company that is in deep deep trouble. Our company is taking over the lots at about half of the cost they were appraised at in July. They will acquire the lots as they sell each house, and then build another one, they are not taking it all down at once.

I am not sure how the deal is structured exactly, but that is the gist of it. I guess in my original post it comes off as very risky! But it is quite the contrary.

Anyways, I am not sure the type of loan they are looking for, my boss just told me about it today, gave me the gist of the deal, and told me to get started. He is busy running around trying to close on a deal so I haven't had a sit down with him yet. I have just been filling in the general information, but I guess I just need some tips on what the banks will be looking for, and how to present the information in a word document.

Hello there,

If you know anything about me or have read any of my posts you have probably realized I am at square one and trying to learn.

I am doing some miscellaneous work for some real estate developers/builders/investors who are starting up a project of 61 lots to houses. They are planning to finance one or two houses at a time from different banks and build a few at a time with a "if we sell one, we build one" strategy.

Anyways, I am putting together a little book presentation to present to the bank(s) for financing, and they kind of gave me a template from a previous multi-lot deal, but it is difficult for me because I am not to sure what the banks are looking for, or how to organize the information the correct way. Any ideas, help, or templates that you use?

Thanks again for all of the help.

Well thank you very much Jeff.

I emailed you on the email you sent in the request. I appreciate your help!

Hello again,

I am doing some miscellaneous work for some investors who are currently building very large, very custom waterfront lake houses in Texas. I am trying to organize the budget template a little more strictly because we need to track every cost, from framing materials, labor, to the budget for lighting fixtures.

Does anybody have any experience in this? Or by any stroke of luck does anybody have a premade template?

I ask because I am a bit unfamiliar with construction lingo and am also doing procedure planning. I need to write a procedure on asking for a plumbing bid, a framing bid, etc. I know this is a bit scattered, but it is a bit overwhelming when doing this for a large project so I am trying to get my bearings.

Thanks for any help.

Thanks Joshua. Well that was easier than I thought it would be! I wasn't expecting it to be reliable to be honest. While we are on the subject, is job growth one of the most important elements in selecting a local area?

Hello,

I am a long time reader of this site, and I love it. I very young but am currently assisting some real estate with some miscellaneous work. They are looking to start a large project in a neighborhood and I was hoping to do a little bit of demographic research for them.

Are there any reliable demographic sites?

The one I have been looking at is www.bestplaces.net for neighborhood profiles and it SEEMS reliable, but I am unsure. Thanks for any help!