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The Pencl journal
Feasibility, land math and the habits that keep developers from overpaying — written by people who have signed the note.
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Underwriting
Every month between signing the land contract and pulling permits costs interest, taxes and consultant fees. Put that clock in the pro forma before you agree a price.
Underwriting
Work backward from the return you need and you get a walk-away price before the negotiation starts — not after you have fallen for the site.
Underwriting
Two deals with the same margin can return very different results. The difference is how fast the lots sell. How to set a pace you can defend.