Advice for developers and builders seeking funding

Advice for developers and builders seeking funding

$ Listen to lenders and be very patient.

$ Have a strategy mapped out to discuss with lenders, including market analysis and risk assessment. For example, can you secure zoning and permits, and do you have a financing plan in place if costs change or there are delivery delays?

$ Have budgets locked down.

$ Make sure presales are solid.

$ Be prepared to add more equity.

$ For land purchases, see if the land seller will hold a vendor take-back mortgage until construction is ready to start, at terms favourable for the buyer and seller.