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18 minutes ago, Ride Delaware ? said:


You would think that. Unfortunately, real estate development is a long arduous process. I’m not making any more paper than I was in previous years. However, in two more years, when things are built, if all goes according to plan, it should be looking up.

I just get the same paycheck every other week...if profits are good I get extra paper in January. 

 

Page topper woo wooo

Edited by GrilledSteezeSandwich

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14 minutes ago, Shadows said:

Ive always wondered how these big 70mil$ suburb developers get money for projects. They all seem to be family business not some big corp.

They take out jumbo loans often with small or no payments early and a balloon payment later..and don’t start building until they’ve locked in anchor tenants in long term leases. My uncles commercial real estate partner comes from a silly amount of money.  His dad bought most of the land along MacArthur road up where buckmans is back in the 50s for $1,000 an acre which was a lot back then. 

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Ive always wondered how these big 70mil$ suburb developers get money for projects. They all seem to be family business not some big corp.

Most commercial loans are 5, 7, or 10 year fixed with 20 year amortization. The most prevalent is 5 year. You basically have a 5 year loan that balloons at maturity, but you only pay as if it were a 20 year loan, so your payment is lower. When it balloons, you have a smaller loan the next time which leads to larger profits as long as interest rates don’t explode upward.

Most residential developers only have construction loans where they pay interest only. Their hope it to sell lots and homes early on to pay off the infrastructure cost, then profit on the back end.
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3 hours ago, Ride Delaware ? said:

I just read a good chunk of this one. Sad that I didn’t see it until now and save him the weekend hassle. He should have avoided Killington like the plague. Either hit up Mount Ellen on your way south or head to Pico. Both would have been significantly less crowded... I’m expecting Steaux to be even more insane in the next couple years now that they are adding mountains to the Epic Pass in New England.

Hope you enjoyed it. I was just thinking about how awful it was climbing the hill to Stowe in ski boots. That story brought so much enjoyment to some fellow posters like tarponhead. I drove past the Pico parking lot on my way home and it was just as packed as Killington. Next time I'm not even bothering with a Saturday or Sunday in Vermont; Monday through Thursday are awesome and there are almost never any lines.

Edited by saltyant

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Hope you enjoyed it. I was just thinking about how awful it was climbing the hill to Stowe in ski boots. That story brought so much enjoyment to some fellow posters like tarponhead. I drove past the Pico parking lot on my way home and it was just as packed as Killington. Next time I'm not even bothering with a Saturday or Sunday in Vermont; Monday through Thursday are awesome and there are almost never any lines.

You shouldn’t axe it straight up. Pico and Mount Ellen usually have about 5 minutes lift lines. The parking lots are packed, but there is less parking than the main mountains and the perception they aren’t as good. In some ways they are just as good if not better. Plus, there is very little interconnect, so you won’t often see people parking at one mountain then skiing the other. I work at Mount Ellen most weekends. You’d be passing up solid skiing with not much of a line, especially if you’re a single...
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