For 165 units and the soft cost is only $1M seems a little light.Did you get a breakdown of the soft cost?

Hello,Long time lurker, decided to start being active in the BP community.I'm a lender, of the traditional 'soft money' mortgage sort. 

Is a Conventional loan from a bank or any other bank loan impossible to cash out or would we have to go through the route of a hard or soft money lender/OPM for the rest of the money?

Some recommendations:- Black Diamond (no selling speakers)- Chelmsford AREIA (not often, but sometimes there are selling speakers but it's always a very soft sell)- I guess I should put my event in the mix too.  

Soft money like me, or hard money like OP is talking about, makes no difference. 

This agent may have thrown in the towel on earning her commission but I haven't.

First the rule is a "rule of Thumb" and you should always run actual numbers to analyze a deal.There are a lot of costs you are not accounting for; primarily soft cost/ holding costs.Here are some of the costs you haven't includedClosing costs x2Transfer taxesloan costspoints on the loaninsurance (builders risk more expensive)ElectricityWaterProperty taxesSeller concessionsStaging costsIn general a round trip of both buying and then selling can cost 15% of a deal easily and 20% if you use hard money and take a long time to rehab and sell.

@Jonathan Towell ratio looks to be about 1 to 35 which is great.          

My homes cost me $100-110 per foot to build before land costs and soft costs.

Because of that, their real estate agent asked mine where to go- we pointed them to Wells Fargo.