The Weakest Link - Advice for New Developers

Another situation that we often encounter is a business owner who is seeking to buy a property, renovate it and then move in his existing business. Typically, one strong motivation is that it will make more sense to own than to rent, and that there will be tax advantages to the business owner. Assuming that the business owner's tax returns, operating history, financial statements, etc. make a strong enough case, the next significant hurdle will be showing lenders that a well-conceived plan has been fleshed out as evidenced by the buyer/business owner having compiled any necessary development rights, permits, tax returns, approved plans, a well-thought out budget and a project timeline that makes sense.

Whether a renovation/repositioning, new construction or an owner-occupied business transaction, "packaging" all the crucial elements carefully and shoring up "The Weakest Link" will lead to a project that will not only get financed, but will get financed on the best possible terms.

© 2008. Gregg Winter. All Rights Reserved.
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By Gregg Winter, Managing Member