For real estate investors and developers exploring Carlsbad, SB-423 offers a streamlined pathway for multi-unit housing projects.

Crickets...At this rate, it will be 2+ years before the project is finished.Anytime you ask for a project plan or schedule you will get vague responses with no actual plan.

My basic underwriting making some standard assumptions on HOA expenses, 20% down, 7% interest rate, 30 year mortgage, utilities, supplies, and maintenance costs shows a loss of about $22k per year if you are self managing.

If you are successful, you should have profits to pour back into the next project.

This project highlights how purchasing from motivated sellers, making strategic renovations, and selling to retail buyers can lead to successful outcomes.

When you start to do a lot of projects, 50% is a lot of money to go out when you are scaling, finding deals, and doing all the other footwork.

I have spent the past 12 months as an independant contractor and wish to finance a project.

Digging down is a project I am just finishing up.... it is exhausting but potentially worth it.

A good condo board should be saving money for larger projects as they are known in advance (eg every 25 years you need a new roof). 

Lendbase, as a "correspondent lender" basically shops for and lends other Lender monies.