Good morning, so I’m doing my first development project and I’m putting the numbers together and was wondering with good credit and all things equal and good at what rate is the usual construction loan?

Before starting grad school, I spent two years working in a real estate development firm specializing in large-scale commercial and solar projects in NJ and, before that, worked under a general contractor for several years.

Hi BP community,We are considering developing approx 280 Townhomes/Single Family Homes in Berkeley County, WV, but we want to make sure there is a demand for it.

Purchase price: $106,000 New mobil home park development.

I'm currently looking at acreage inside City Limits with an opportunity to develop but the problem is that the property is in a flood plain.  

I know a couple of the things to look for, like population, jobs, new developments, “personality”, etc.

Ideally, I would like to purchase a duplex or MF, live in one unit and rent the other(s) out.But then I had the idea, that since I'm already applying for a loan, why NOT purchase some affordable land and develop my own MF (Duplex or 4-plex) from the ground up!?

-If the sale involves a note, regular and timely payments on the note should be made, and repayment should be based on the value of the underlying property rather than the success of the land development.

Next you will need to determine how much work needs to be completed on the property and develop a cost estimate to conduct those repairs.

...Chris, are you familiar with loans or advice for developing as a first-time investor?