To obtain financing it can't be larger than 25% of the total community square footage. 10% of the budget to go towards reservesNo active or pending litigation (HOAs like to go after the developer for construction defects)No assessments (ask for the last 12 months of board minutes in your offer.

There is a lot of land available and the area and I've always thought it was a matter of time before you saw more development moving in.

You should set up an ideal situation with one like a line of credit with them and then once you have a purchase, go to someone else and refi it. 

Ideally, they can provide you with comps and be a resource, but you still need to do all of your own research. 

First I deal with small community banks whith whom I have formed a relationship with a local banker.

hey Karen what company did you speak to already and which development are you looking at?

I'm aware of all the good development the new casino's, Stockton, the tech company the Tenseness ave re development, the supposed re development of ducktown etc etc but there is no factual comps to support a real estate boom higher then 10%, overall home sales in the country are still down and there has not been much of a kick up in sales in Atlantic county. 

I was very intrigue last year when the Opportunity Zone Funds was being develop, even participated in Webinar call-ins as state started listing potential locations for OZ Funds, this moved fast, but the Capital Gains requirement left me out of investing. 

There are little pockets that have been revitalized, but as a whole it is not an ideal area.  

We have enjoyed listening to the podcasts, and consequently developed a niche finding distressed sellers in Cleveland, Oh.