I'm building a new 40 room, limited service hotel in my hometown (cost of $4 million) and I stumbled upon the CMBS program.  

Alex Craig Pros: Free for teachers & students, 50% for nonprofits, free 30 day trial, Collaboration Tool Cons: Not designed for real estateMS Project “You can not beat MS Project and how powerful it is for the price.It is COTS and I have management a portfolio of $500 million construction projects with it at once.Build your MS Project schedule with cost and export to Excel for status updates.

I've followed the value of this property till mom and dad passed away 2 years ago and it was sold for $1.1 million, and mortgage free since 1980.Funny thing is I urged him to buy more duplexes in 1970 when they went for $75K, and again in 1982 when they went for $250K.

@Jeff Burdick  I was looking at providing some equity for a few flips In Wriglyville.. those pads were selling for 3 to 4 million each.. no sign of massive issues... its the same in most of the mid west rust belt cities you have socio and economic obsolesance and you have movement from those areas by those that want better schools and housing.. markets shift and change... just the way it is.

Landlording for most is as I state just a adjunct to everyday income.when I look back on my HML company I had in Oakland I had 250 investors that equated to about 50 million in play.I can only think of a few that were landlords... and those were commercial landlords not resi.. now I had a ton of borrowers of course.... but most with cash owned other business's.. and every kind of business.... they kept their business's invested in loans and most had some sort of rentals.. but usually came in Beotching about them and how to sell them and buy more notes LOL.My Daughter works for Intel.. she loves her corporate gig could care less about real estate other than she owns a few rentals as a diversification....

#s used in this are for example purpose only Imagine the property is appraised by bank for 1.1 Million and I am getting it for 1 Million.

Development is capital intensive and if we are talking about true development not just fix and flipping SFR's which anyone can do. and takes not much capital.True development takes a boat load of capital.. it takes very good banking relationships that take years in many cases to establish.Now if you have a lot of dough  a few million in Cash you could buy your way in.other wise you have to work your way up... lenders are NOT going to lend to first timers I can tell you that... maybe some hard money guys with ridicules equity positions and are ready to take the project from you if you fail.. but banks nope you need a strong track record you need a monster balance sheet and you need liquidity in the 7 figure range usually.One way to start to get experience though is just do a simple lot split..

Robert A.You made 2 million dollars in three years.

The Plan in the beginning was to Acquire ten Rental Houses that produced positive Rents and in ten years, fix up the five worst to Sell and pay off the remaining five houses to be worth a Million Dollars with $3000 a month in Rents to live on...I also have gone from Mutual Fund Investing to Stocks and then Options on Stocks to Daytrading just the S&P Emini Future in the morning on my laptop.

. $60k purchase price, 24k s.f. market rents around $0.50-1.00/s.f. replacement cost about $3-4 million...