VENTURA
PARTNERS
VENTURA
PARTNERS
•
PROJECT
CHECKLIST 3
CHECKLIST 3
CHECKLIST PART THREE: INITIAL FINANCIAL CONSIDERATIONS
We have all experienced under-budgeting. Here are some questions to ask which may avoid that pitfall in planning your project:
• Who will finance the commercial portion of your mixed use project?
• Have you developed your expense projections to reflect actual local vendor costs?
• Have you included equipment purchases in your development budget?
• How long from the completion of construction will it take to reach stabilized occupancy?
• Have you budgeted enough reserves to cover future large expenditures, such as leasing commissions or replacing capital items?
• Will you be able to refinance your project when the term of your initial loan is up?
When those three initial concerns -- site, marketing and budgetary -- have been thoroughly explored, it's time to look at what resources you might have for finding tenants.
We have all experienced under-budgeting. Here are some questions to ask which may avoid that pitfall in planning your project:
• Who will finance the commercial portion of your mixed use project?
• Have you developed your expense projections to reflect actual local vendor costs?
• Have you included equipment purchases in your development budget?
• How long from the completion of construction will it take to reach stabilized occupancy?
• Have you budgeted enough reserves to cover future large expenditures, such as leasing commissions or replacing capital items?
• Will you be able to refinance your project when the term of your initial loan is up?
When those three initial concerns -- site, marketing and budgetary -- have been thoroughly explored, it's time to look at what resources you might have for finding tenants.
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VENTURA
PARTNERS
Economic Real Estate Incubator
DEVELOPMENT
Economic Real Estate Incubator
DEVELOPMENT