Thus far.I think it's important to obtain the loan, go ahead and finish out the project and get long term financing if you can.

Paid them back when the project was completed.Good Luck,Jason

It looks like you are buying this at a project 8.5% CAP, which is not bad.

The one I looked at closely (a resort conversion project in Orlando) looks like a good chance of ending up stuck with a property that was a money looser and imposible to sell.I would also be curious to hear other's thoughts on these deals.Jon

He dropped like he just had a massive heart attack.

I even helped write (with no author credit) an internal guide when I worked with one of the Big Four for the leading guy of the firm in San Fran that specialized in 1031 (I was low on chargeable hours and needed a project).

I ask these questions, because I have been asked to get involved in a large project in the area for marketing and sales.

For some of my bigger projects I'll trudge through the calls and empty promises of out of state investors, but for my single family and smaller multi-dwelling wholesale deals its just not worth the hassle for me.

As far as money for a second project, if it is truly a deal you can find the money.

Starting out, I would avoid high risk projects.