Take Off Page
You may wish to pencil entries to the take off page and enter them to the model later. Times have changed, but your computer is not always at hand. And to some, it just makes sense to use the pencil, not the keyboard, at this stage. The input here mirrors that of the sample project displayed on the LDM input page (an 83 lot, two phase subdivision with seller financing and no land option).
The take off page is
provided with the model. Simply print it out and pencil in your entries.
| Manual Input | |||
| Identification & Date | Column | ||
| 1 | Name of Project | Oak Hollow | |
| 2 | Data Entry Date | July 1 | |
| Lots & Phases | |||
| 3 | # of Phases | 1 2 3 | < Choose One |
| 4 | Total # of Lots | 83 | |
| 5 | # of Lots in Ph 1 | 38 | |
| 6 | # of Lots in Ph 2 | 45 | |
| 7 | # of Lots in Ph 3 | ||
| 8 | Total # of Lots | Auto-Calculation | |
| Land Cost, Timing of Land Purchases, Options & Project Type | |||
| 9 | Total Land Cost, All Phases | $1,500,000 | |
| 10 | Project Type | 1 Phase Project 2 Phase - No Option 2 Phase - 1 Option 3 Phase - 2 Options 3 Phase - Option on Ph 2 & Ph 3 3 Phase - Option on Ph 3 3 Phase - No Options |
< 7 Possible Project Types - Choose One |
| 11 | Project Type ID | Auto-Calculation | |
| Estimated Sale Price of Lots By Phase |
|||
| 12 | Ave SP of Ph 1 Lots | $72,500 | |
| 13 | Ave SP of Ph 2 Lots | $74,000 | |
| 14 | Ave SP of Ph 3 Lots | ||
| 15 | Ave SP, All Phases | Auto-Calculation | |
| Sale Costs | |||
| 16 | % RE Commission | 2.5% | |
| 17 | % Closing Costs | 1.5% | |
| Development Cost (Include All Costs Except Interest & Sale Costs) | |||
| 18 | Ave Per Lot DC (Ph 1 Lots) | $30,000 | |
| 19 | Ave Per Lot DC (Ph 2 Lots) | $32,000 | |
| 20 | Ave Per Lot DC (Ph 3 Lots) | ||
| 21 | Ph 1 Permitting, Extraordinary Costs, Adjustments, etc. | $15,000 | |
| 22 | Ph 2 Permitting, Extraordinary Costs, Adjustments, etc. | ||
| 23 | Ph 3 Permitting, Extraordinary Costs, Adjustments, etc. | ||
| Construction/Holding Period & Absorption | |||
| 24 | Mo of Initial Land Purchase | August | |
| 25 | Mo of First Lot Sale | November | |
| 26 | Construction & Holding Period in Months | Auto-Calculation | |
| 27 | # of Sale Months in Year #1 | Auto-Calculation | |
| 28 | Absorption Rate Per Month | 2 | |
| 29 | Absorption Rate is: | Auto-Calculation | |
| Acquisition & Development Loan | |||
| 30 | Interest Rate
(Months 1-12) |
8.0% | What is the Interest Rate Trend? |
| 31 | Interest Rate (Months 13-24) |
7.0% | (Flat, Up, or Down?) |
| 32 | Interest Rate (Months 25-36) |
6.0% | |
| 33 | Interest Rate (Months 37-48) |
5.0% | |
| 34 | Interest Rate (Months 49-60) |
||
| 35 | A&D Loan Paid Off When This % of Lots Are Sold | 75% | 75% is Typical |
| 36 | % of Proceeds To Mtg Reduction | 85% | 80% is Typical |
| 37 | Min % Req of Developer (Cash or Subord Mtg) | 25% | 25% is Typical |
| 38 | Max % Loan on Residual Land | 65% | 65% is Typical |
| Target Profit Margin | |||
| (Entry Not Mandatory for Profit Calculation) | |||
| 39 | Target Profit Margin Bef Tax (% of Revenue) | 20% | |
| Seller Financing | |||
| 40 | Seller Financing, Yes or No? | Yes | |
| 41 | If Yes, Amount of Seller Financing | $500,000 | |
| 42 | If Yes, Amount Must Be Less Than: | Auto-Calculation | |
| 43 | If Yes, Interest Rate | 5% | |
| 44 | If Yes, Term of Seller Financing in Months | 36 | |
| 45 | If Yes, Line 44 Must Be Less Than Line 45 | Auto-Calculation | |
| Owner Tax | |||
| 46A | Percentage Ownership | 35% | |
| 46B | Filing Status | Married Jointly | |
| Total Acres, Acres/Phase | |||
| (Entries Not Mandatory for Profit Calculation) | |||
| 47 | Acres in Entire Project | 54 | |
| 48 | If No Option Agreements, Total Acres | Auto-Calculation | |
| 49 | Acres in Phase 1 | ||
| 50 | Acres in Ph 1 & Ph 2 Combined |
||
| 51 | Acres in Phase 2 | ||
| 52 | Acres in Ph 2 & Ph 3 Combined | ||
| 53 | Acres in Phase 3 | ||
| 54 | Acres in Entire Project | Auto-Calculation | |
| 55 | Beg Balance of A&D Loan | Auto-Calculation | |
| 56 | Cash To Project By Developer/Investor | Auto-Calculation | |
| |
|||
If you wish to ask us a question about the model, 'Contact
Us' and we will get back to you
as soon as possible.
Land Development Model, LLC
302 West Lafayette Road
Medina, OH 44256
330.441.1690
302 West Lafayette Road
Medina, OH 44256
330.441.1690