All Forum Posts by: David Jacques

finance 100%. I have a masters degree in real estate development from JHU. There are a couple schools on the east coast that have MS degrees in the field.

I've never gotten half but I've gotten about 1/3 off in 2010 in a really great community in Baltimore (Canton). Those days are long gone for us though.

if the neighbor building is leased at $600 per unit, undercutting them by $150 is leaving money on the table and gives the impression that you have an inferior building to prospective tenants. Why did you purchase the land outright before securing the entitlements/ zoning? I realize you only have 3000 in it but depending on the jurisdiction, a rezone could take a considerable amount of time.

I did a very small townhouse that had a 6' long countertop. I asked my granite contact for their least expensive, d-spec piece of stone that was a runoff sitting in a warehouse. I was quoted 2k for a 6' long ctop which was 10% of my budget (needed a new hvac and water heater). I went to Home Depot and bought 1x1 sf black granite tile and had my contractor install it. All in, around $200. I would be surprised if the buyer even knew it was tile.

Very few people actually purchase raw land outright to develop. If you do, it should be extremely soft terms. Most of the time, you get the property under contract and pay for the entitlements. If the deal falls apart, the seller gets your entitlements. If it doesn't, you can either assign the deal to a builder for a fee or do your A and D loan. 6 months isn't unreasonable for a standard build if you don't have to factor in selling it.

Speak with an office manager and ask for their youngest and newest/hungriest agent.

I work for a builder. You have a ways to go before you would get anyone's attention. You might be able to pair up with a small rehabber at your current level of experience but it probably won't be much to make a living off of.

Typically you would do an acquisition and development loan then roll the A&D plus interest accumulated into to a perm loan when the house is built.

I posted a new home construction proforma about a month ago that you should look up.