Secondly, the language of the agrement is going to be highly dependent on the project type or investment strategy.

I have worked on many of these projects in my appraisal career and am working on getting my start in the land development arena as well.

Background:The renovation journey has been comprehensive—refinished wood floors, new windows, central AC, and fully remodeled kitchens and bathrooms.

You are able to have access to it and buy it with relative ease and in fact, you can use this as a point of leverage and negotiation with your Seller in echoing to them that the bldg. currently does not cash-flow that well for you and you have to renovate - although your Seller may already be aware that rents are below market and has already priced it accordingly... if this is the case, then just buy it without without using 'below market' rents as a negotiation point. 

When determining the budget for a new construction project, what comprises the holding costs for the build?

I saw their Facebook post promoting their quick collaborative mortgage service and decided to try it for a property renovation project.After filling out a form and providing my ID and bank statement, they promised a $41600 mortgage within one day, but required a 3% service fee.

Based on my projections I assume I would earn a negative cash flow between $400-$1,000 annually lol. 

Account Closed this is an interesting project by a reputable developer.

There are definitely ’barren’ areas of center compared to NYC like Market East but there are slews of huge projects underway throughout the city. 

Biggest take away is finding a location or a property that you can run the numbers on any renovation or market to check future ARV/equity.You want to have equity built up in the shortest amount of time to try and refinance to take cash out or take out a Heloc.