Cohousing-L Mailing List: Getting The Construction Loan

[Joani Blank (jeblank]

John,

I'm sure you will get some lengthier responses, but my brief one is:
coonsider getting a developer to work with you. It is all well and good to
try to save money by being your own developer, but it may be that if you
don't "hire" a developer to get the financing together, you may not be able
to build at all. Just like you can "save" $400 on a $1000 couch that's 40%
off, but if you don't have $600 you don't got a couch! The developer's cut
may seem like a lot--with some luck you will find a developer who will be
reasonable--but he (or she) is taking a pretty big risk and people who are
able and willing to gamble like that get well rewarded in our culture, when
the project they are building works.  Remember, not all of them do.

Joani Blank

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