Does anyone know how you can factor in an Interest Reserve to a Construction Loan in Argus Developer?
Have a development loan that requires 35% upfront equity, however, I also need to factor in an interest reserve into the loan. This isn't an actual expense but may require more equity to be contributed for interest shortfalls.
Not sure how other people account for this? It's not a Development Cost per say. Are you adding it to contingency?
I’ve never used Argus developer so I can’t help you there, but the interest reserve is definitely a development cost, usually either within or immediately after soft costs.
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