Then the 2nd phase of the JV had us and the first developer do a further joint venture with Lennar Multifamliy Communities, where we brought the now fully entitled project to Lennar, and they brought the biggest part of the capital (it was close to $100M of total capital) to the table, and where they also provided the construction loan guarantees.So the way to think of it, is take all the necessary ingredients to a project, then divide them up among all parties as needed (just watch that you don't divide the pie too much). - Land- Capital- Experience/track record- Loan guaranteed capacity/financial capacity- City/political relationships- Build capacity/expericence- Offer, i.e. the design of unique mix of any of the above that makes a project competitiveHope that is of help.~ Scott

If your deal is not a straightforward transaction, especially if there's "phased" construction or anything that's out of the norm, GET AN ATTORNEY WITH EXPERIENCE IN THAT SPECIFIC UNIQUE SITUATION!

Separating materials from labor, and breaking down each of the 12 phases, and then factoring in profit ( 20%) is a much more accurate way of scoping the project costs. 

So... first flip is in construction phase...

This is the amount of money you need during the rehab phase...not to pay for rehab....but to pay the loan payment while your home is not making money.

@Emma Santana 1) YOU will need to be familiar with all phases of construction.

If your deal is not a straightforward transaction, especially if there's "phased" construction or anything that's out of the norm, GET AN ATTORNEY WITH EXPERIENCE IN THAT SPECIFIC UNIQUE SITUATION!

Hi, In the evaluation phase of purchasing a 3 story Mixed Use Commercial building (year built 1915). 

But is is not a strategy I would subscribe to at my phase of investing.

I think you're officially in Phase 2 --Pase 1: earn your degree in the real estate school of hard knocks, occasionally getting your teeth kicked in.Pase 2: Become successful and get tired of the same day to day nuances.