15 October

Making Land Offers

What Is Preliminary Underwriting? We like to think of “underwriting” as the analysis and vetting of a prospective project – all the backroom work that needs to be completed before hefty sums of money and time are invested in a …

03 September

Financial Analysis

Purpose of Cash Flows? Having started my career as a financial analyst, I ran a lot of pro forma models and most were “static” one-pagers.  And by static, we are generally talking about revenue and cost projections, but absent any …

04 July

Land Analysis

What Does “Land Residual” Mean? During the land acquisition process or in the financial analysis, “land residual” is a commonly heard term.  In essence, the land residual is tantamount to meaning the as-is value of the land in its current …

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