Hey - currently developing a condo project model. Does anyone have experience building one?
Main questions are: how many units are you typically expecting to sell per year? Or does it even work like that; are you looking at income at a more granular level (ie. units/month)?
As you're winding the units down, how are you paying taxes, and what part of operations (ratio, standard % estimate?) is the project owner still paying, or is all of this supposed to be paid out of a reserve?
To confirm, owner is looking at the project on a 1-3 year time horizon... right? Ideally, all units sell ASAP to pay back investors, collect fee, and pay back any debt.
Any other points to take into consideration? Appreciate any insight.