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Basics of a Land Development Loan

It is essential to understand the risk factors used by private investors and investment companies to determine whether you are seeking equity or debt financing.

Many viable projects never close or get funded because they are not properly presented. Many times, the time is running out for the potential developer as the seller of the land or project moves on to new buyers. 

To know more about the land development loans; visit https://taylormadelendingllc.com/.

Land pre-development loan

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Find out which projects are close to completion and get the most rapid evaluation. The ones that have concise and well-written executive summaries.

A clear summary should be written after you have completed the writing.

1. Principals who are applying for loans: Please include all relevant information in order to send an LOI (letter d'intérêt) to the appropriate parties.

Include a resume and examples of past projects.

Complete financials including tax returns and financial statements for those applying for the loan.

2. You should have information about the land.

current value, proposed value, current zoning

If the land is owned already, include details on the purchase date as well as the original cost. All monies that have been invested in the project should be included. This is very important

The best indicator of a property’s value and potential development is its location. Most funding for development deals comes from areas that are in transition or markets with rapid growth.

3. Currently executed contract (how long and how flexible is it needed)

4. surveys, plats, topo maps, environmental reports.

5. Current appraisal, if one is available.

 

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