Real estate development guides

How the numbers behind a development project work, each one worked through with the same sample project you can open in the free tools.

• Pro forma example

  A complete pro forma for a 48-unit building: sources and uses, NOI, the monthly cash flow, returns and what moves them.

• What is a development pro forma

  The five parts of a development pro forma, the numbers developers read from it, and where it usually goes wrong.

• How construction loan draws work

  The monthly draw cycle, the documents lenders check, how long funding takes, and the cash you carry in between.

• Yield on cost

  The formula, a calculator, and how yield on cost compares with the cap rate you could buy at.

• Construction loan interest reserve

  What an interest reserve is, how to size one from the draw schedule, and how rate and lease-up change it.

Free templates

• Development pro forma
• Multifamily pro forma
• Construction budget
• Construction draw schedule
• Construction draw request
• Construction loan calculator

Comparisons

• Best development software
• Draw management software
• Northspyre alternatives
• Northspyre pricing
• ARGUS Developer alternatives