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 […]
First Big Problem
When we received the conceptual design layouts, we knew we had a problem. They were all 4,500 SF or greater. If you remember from a previous post, our initial financial model had us developing a 3,200 SF home at $200.00/SF. The smallest conceptual design was 1,300 SF greater than our model. At $200.00/SF, […]
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 […]
Importance in Selecting a Good Contractor
Selecting the contractor for your real estate development is one of the most important things you will do for each real estate investment you start. The wrong contractor will not only cost you time and money, but also provide such an unlimited amount of aggravation that you will question your […]
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 […]
Adding Value to Your Development Deal
My previous post discussed how we selected our architect. This post addresses how we chose the building lot. This would be a major decision since the cost was a significant portion of our overall development. Our initial financial model had the land estimated at $500,000 of the overall $1,323,062 in […]
