Revised Financial Model
Our last post walked through our revised financial model. In running the numbers, we had a dilemma. The highest priced spec luxury home sold to date on this lake went for $1,700,000. In our latest financial model, we would have over $1.9 million in costs! The model we put together had us selling […]
We must be finally making a name for ourselves. In the last week, we have had close to 1,000 separate pieces of trackback spam! What a pain, but it must mean that we are worth the effort to spam.
In addition, our posts are starting to be selected as the top posts for a number of […]
Actual Second Financial Model
Our previous post discussed that we would need to develop a second model that more accurately described this real estate investment after we had received a revised design and more accurate contractor pricing. Our initial model was flat out wrong. Our bankers were willing to finance the increased investment. Was the risk […]
Our contractor did a good job pricing this new preliminary design discussed in our last post. He provided us with a 31 page estimate with the detail we needed to fully analyze this pricing. We couldn’t afford to get this wrong and have to go back to the bank a third time.
The Numbers
The contractor’s estimate […]
In a previous post, we discussed how all of the conceptual floor plans were around 4,500 SF, which greatly exceeded our initial financial model which was based upon 3,200 SF of heated space. We had made some changes to various room sizes and layouts and had sent the architect back to clean up the drawings […]
Meeting with the Bank
From our previous post on this development you will recall that we just found out we couldn’t build the building we wanted and keep it close to our 3,200 SF we had in our initial financial model. We decided that the first step in figuring out whether to build the bigger building […]
