A wrong call on any of these three can drown a project from the start. 

Do you guys know anyone who would help me start my first project.

Purchase price: $325,000 Cash invested: $100,000 One of the projects I’ve worked on is the Kismet Sober House at 793 Main Street in South Portland, Maine.

I partnered with family but I'm managing all the contractors, buy some materials, and DIY projects where I can.We're not using any HM. 

If you're interested in learning more about this project, I'd be happy to schedule a call to discuss further.Thank you for considering this big opportunity.

Hence, the sponsor kept telling the investors that he would not issue a K-1 for each of those years because (you guessed it) there was no income.In the spring of 2024 the project was foreclosed because the sponsor fell short of funds (cost overruns) and could not get a stop-gap financing.

However for every luxury project, I estimate I will create 3 budget design-forward ones which I already have 5 of these under my belt.I do like your attitude but I would seriously question the feasibility and long term success of this project.

At the close you get nothing, unless you are refinancing seasoned land as part of the deal then you may take something home, but in most cases you close with nothing but the pen you signed with in hand.So now the project needs to start and not only start but get going strong and that may take 30k - 50k capital infusion that is needed and won't be recouped until the project's end. 

After years of managing renovations and new builds for clients, we’re excited to start creating and holding our own projects. 

If a project drags past your original timeline, do you build in extra holding cost reserves, or do you try to refinance mid-project to save cash flow?