That includes both the lot purchase, closing cost for the purchase, impact fees, clearing the lot for the pad for construction, and any things need to prep the lot to start the foundation. 

I had a second speech the next day and, when I looked up, the guru was sitting there with a legal pad writing down everything.

The flip side is you really have to watch for prepayment penalties and make sure the DSCR requirement isn’t too tight for the deal.With hard money, speed is obviously the advantage, but the lesson I keep hearing from experienced investors is to pad both your rehab timeline and your refinance assumptions.

Later form and pour someCar pads and porch pads.  

I’m padding OPEX by at least 10–15% above last year’s actuals, especially in states seeing big premium hikes (TX, FL, Midwest storm belts). 4.

Pad splits usually have large shared areas in addition to the private spaces, that is what makes them a pad split rather than just a house that was converted into an apartment building. 

.$       50    average pad prep$    150    Driveways- Rock, $30,000   200 units$    300    Fence 2 acres, $40,000; Gate $20,000; 200 units.$ 1,000    Land $100,000 per acre$4,500     Let's round to $4,500; permits security, other miscellaneous.NOI Per Unit:$1,300     90% occupancy at $120 per month$      15    Insurance- $3,000 for 200 units$      50   Property Tax $10,000; primarily just land and fence, etc. 

If I can get everything at Lowe’s delivered in a couple of hours, I don’t need to pad that cost.

Pad split is a good option in my opinion, best of both worlds.

I focus almost 100% on my pad ready land cost to come up with profitable deals. 20% of gross development value is the most I will pay for land.