I already have a construction firm that can do this project, I also have a property management company that I will hire for the lease up.

It was amazing to see how much they fluffed the project for the show.

My question will help an investor client of mine interested in purchasing 18 builder closeout units in a project and would like to lease/option them.He was willing to give 80% of their rent toward the equity, and price the property at current appraised value, with 8% increase per year for the 3 year term.With the mortgage mess, this may help sideline buyers get into a property.Any thoughts on where to find these hard to finance people?

Wouldn't a HML for the entire project (purchase, rehab, payment deferment) accomplish what you're trying to do?

we've pretty much decided that this is what we want we want to do as we near our retirement years (don't want to rely on good old uncle sam). anyway, we are currently rehabbing our third prop. and have a little ways to go as we do most (90%) of the work ourselves. our plan is to refi once the project is completed and thus get some of our money back so that we can re-invest in other properties.

We have several major hotel projects underway that will add 40,000 hotel rooms by 2009.

I've been a real estate investor since 2004 (I worked for a hard money lender for 12 years before that).I'm currently working to fill out the funding for a REO project.

Strong preference for properties that are close to the light rail expansion projects that are currently being finalized in Houston.Hopefully the properties are cash flow positive, but I am willing to go underwater since I am expecting at least 10% annual appreciation over 5 years.Close in properties are very difficult to find (and lock).

If the project was approved by the town that means it is public record and essentially is common knowledge.

Two investors did there research and homework and were about to break ground on a new condo project.