Archive for the 'Business Aspects' Category

Contract Writing Checklist

Choosing a Design or Construction Contract
When you are choosing a contract for your architect and contractor, you have a number of standard forms to choose from. The AGC (Associated General Contractors), AIA (American Institute of Architects), CMAA (Construction Management Association of America) and others have their standards. In addition, the firm you deal with may […]

Design Kick-Off Meeting - First Development

Design Meeting Agenda
We actually had our design kick-off meeting at the site. We wanted to combine the kick-off meeting with a joint meeting with our contractor to “site” the house or decide where on the lot the house would be placed. It is important to do this right the first time so you don’t run […]

Setting Up The Company - First Development

Real Estate Investment Professionals
If you have read the previous posts, you will see that we learned one of our lessons we shared the hard way. We were not ready to do business immediately. Although we had hired an architect and were buying our land, we didn’t have a lot of things in place that we […]

Getting Real Estate Financing - First Development

I remember when I landed my first job out of college. It was a good job with good pay. I thought I had it made. I was living away from my family in another state. Christmas was coming and I didn’t have any extra money for gifts and I just thought I would go down […]

Real Estate Financial Model - First Development

Financial Plans Required
You always need to have a firm plan in place before you start a real estate development or investment. It is too easy to find out about a “great” deal and get committed before you actually run the numbers. You must know what you actually need to do to make a deal successful. […]