Updated over 5 years ago on . Most recent reply
7 unit Townhome Development
Hello Everyone,
I am absolutely new to the RealEstate investing world and hoping someone can guide me if I should finalize or walk away with a development deal in MN.
So the lot is for $220k and have plans approved with city to built 7 townhouses, approx 2200 sq ft each. My partner is experienced developer but I am investing the money.
Total cost is $220k for the lot and approx $225k to built each townhome (ofcourse that is just an estimate).
What will really help is if someone can help with Proforma template to enter all the numbers and get a clear understanding of total investment, profits and risks.
Any help, guidance from anyone will be very appreciated :)