Investment idea?? need info.

[69cougar]

OK here is the dilemma.

[B20EF]

Thats an extremely large project. You would have to have excellent credit history for a loan of that size if it were a mortage along with an annual income into the six figures.
If it were a small business loan you had better have a damn good presentation and experience in building complexes.

Hope it works out, the potential to make money in the market right now is good.

[madruggist]

If you are looking to secure a small business loan for this project, it does not appear that the chances are that great considering that they usually want at least 1-2 years business history for any corporation before they open the vault. You would likely need to personally secure the loan anyways so having a clean credit score doesn't hurt.

Having a solid business plan with future profit projections, good real estate investment/development history, sizeble lump sum as downpayment and showing them you or your team has the marketing goods and know how to sell these puppies during development would all increase your chances!

It never hurts to try! Good luck on what sounds like a potential profitable undertaking. What type of timeframe are you thinking for completion of such a project? The time and season in which you begin selling it could play a large role in what you get. Hope you have good connections for some quality contractors since they seem to be in short supply these days. Wouldn't the cost of materials decrease your profit margin - seeing as you seem intent on demolishing the current property and builing two infills/attached dups in its place? or did i interpret your post wrong?

Have you thought about doing some JV's to come up with the funds?

[B20EF]

Is this the property at the corner of Center st. and 20th Ave?

[AllGoNoShow]

Don;t forget, if your looking into the mortgage route, look into Line of credit at FirstCalgary. DOn't know many details but I know many people who have switched their mortgages and loans and such from other banks to First Calgary.

[69cougar]

Originally posted by madruggist


It never hurts to try! Good luck on what sounds like a potential profitable undertaking. What type of timeframe are you thinking for completion of such a project? The time and season in which you begin selling it could play a large role in what you get. Hope you have good connections for some quality contractors since they seem to be in short supply these days. Wouldn't the cost of materials decrease your profit margin - seeing as you seem intent on demolishing the current property and builing two infills/attached dups in its place? or did i interpret your post wrong?

Have you thought about doing some JV's to come up with the funds?


Originally posted by B20EF
Is this the property at the corner of Center st. and 20th Ave?

nope.

[D. Dub]

I have past experience in construction financing.

Most likely the only way you'll get financing is if you have a GC on the project that has a lot of experience and can guarantee to the bank that the project will complete successfully.

[Khalil.e]

JV = Joint Venture

PM'd ;)

[Teinlow]

What is your time frame like???? sometimes it can take months or years to start to tear down a house and do a infill with all the permits and building codes... architect as well .. sometimes the community can be pretty bad in this they have to play a small role when doing a infill