Mentor for land development, needed asap!

Land & New Construction
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Mentor for land development, needed asap!

Joshua Bennett
Real Estate Consultant · Port Orchard, WA · Member since 2017 · 33 posts · 13 votes

I am seeking a mentor to assist me in my first development project in WA state.

It's about 20 lots that has already been subdivided and platted.

I already have the plans for the homes, and the site plans.

I need assistance with the proforma and then to determine if build and hold or build and sell is the better option, so the financing part so the loans will be approved.

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
1y
Quote from @Joshua Bennett:

I am seeking a mentor to assist me in my first development project in WA state.

It's about 20 lots that has already been subdivided and platted.

I already have the plans for the homes, and the site plans.

I need assistance with the proforma and then to determine if build and hold or build and sell is the better option, so the financing part so the loans will be approved.


Get with a good commercial banker that does new builds they will help you.. IE tell you what they need to see to approve you for a loan.. the lots are platted but is the UTLS installed and streets completed ?
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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    1y
    Quote from @Joshua Bennett:

    I am seeking a mentor to assist me in my first development project in WA state.

    It's about 20 lots that has already been subdivided and platted.

    I already have the plans for the homes, and the site plans.

    I need assistance with the proforma and then to determine if build and hold or build and sell is the better option, so the financing part so the loans will be approved.


    Get with a good commercial banker that does new builds they will help you.. IE tell you what they need to see to approve you for a loan.. the lots are platted but is the UTLS installed and streets completed ?
    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    2Reply
    • Joshua Bennett
      OP
      Real Estate Consultant · Port Orchard, WA · Member since 2017 · 33 posts · 13 votes
      1y
      Quote from @Jay Hinrichs:
      Quote from @Joshua Bennett:

      I am seeking a mentor to assist me in my first development project in WA state.

      It's about 20 lots that has already been subdivided and platted.

      I already have the plans for the homes, and the site plans.

      I need assistance with the proforma and then to determine if build and hold or build and sell is the better option, so the financing part so the loans will be approved.


      Get with a good commercial banker that does new builds they will help you.. IE tell you what they need to see to approve you for a loan.. the lots are platted but is the UTLS installed and streets completed ?

      Yes, the utilities are installed and the street is complete. 
      1Reply
    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      1y
      Quote from @Joshua Bennett:
      Quote from @Jay Hinrichs:
      Quote from @Joshua Bennett:

      I am seeking a mentor to assist me in my first development project in WA state.

      It's about 20 lots that has already been subdivided and platted.

      I already have the plans for the homes, and the site plans.

      I need assistance with the proforma and then to determine if build and hold or build and sell is the better option, so the financing part so the loans will be approved.


      Get with a good commercial banker that does new builds they will help you.. IE tell you what they need to see to approve you for a loan.. the lots are platted but is the UTLS installed and streets completed ?

      Yes, the utilities are installed and the street is complete. 

      Ok find a local commerical bank that does spec loans and go talk to a lender and ask your questions they will be able to answer them in detail of what a bank looks for to fund this and U can use that info to build a base model around.. offer to buy the banker lunch.
      Podcast Guest on Show #222
      JLH Capital Partners51 Review
      WebsiteView Page
      1Reply
  • Bryant Brislin
    Title Representative · Irvine, CA · Member since 2017 · 874 posts · 519 votes
    1y

    I might be able to help a little bit.  Feel free to reach out.

    1Reply
  • Gabriel GraumannPro Member
    Real Estate Broker · Phoenix, AZ · Member since 2019 · 165 posts · 100 votes
    1y

    @Joshua Bennett feel free to reach out if you're still looking for someone to assist you. I've completed a few of these myself, as well as worked with numerous developer/builder groups that do what you are trying to do.

    1Reply
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