Between due diligence, rezoning (if applicable), site plan approval, construction drawing approval, offsite easements, permits, etc. it is a lengthy and expensive proposition.

I’ll be trying to do something similar on my next property although I may try to stay under my remaining second tier entitlement and put 0 down.

Are there any areas that we should stay away from (higher crime, etc)?

I am interested in doing the same with some of my friends but I want to stay in Queens.

Of course he’s been around a long time and is smart as hell but still, it’s a business and really some of the things Martin mentioned, if you don’t do them do you think you will stay in business long?

I would stay away from that area.

I appreciate your comment and will stay focused on forcing appreciation/tracking numbers.

So if your apprisal comes back at $200k, they will lend you up to $160k and space it out over several draws.

Stay in dallas area and would like to start getting involved, meeting new people and learning more.

When I have made my final draw on the construction loan, we will set the terms of the loan (what I am seeking advice on).