Nothing in that says you can't rent it for 3 of those years, so why not have your cake and eat it too?

(And it’s hard not to pay attention to this when your carrying costs start to eat up your profit).

Hello all,I'm a new and very green investor from the Enchanted Mitten.

I say this not knowing the situation too, he might be a great producer and building guy and be a dunce with numbers, he needs to learn, but maybe you could also reach a compromise where he eats some of it.

That is if you get the project completed and resold in 3 months, if not then add additional interest payments to eat at your profit.So in short hard money is expensive but adds risk to your projected profit and sustainability in the form of extended holding cost.

The cost of the foreclosure will eat up most of what he would recoup.

I live and invest in the fox cities about a half hour south of Green Bay.

Better to eat an extra months mortgage than rent to the wrong people!

It could well be the best use would be to pay down debt, but frankly at todays rates, near an inflationary rate, using that money to go out and eat may provide a better quality of life worth carrying debt, depends on you and your goals and what is most important to you.

Finally, pricing...leave some meat on the bone....we all have to eat, so does your GC.