Experience is a must for Real Estate Development Loan Approval

With the current global credit squeeze, most lender have returned to the early 1990s when real estate development loans and construction finance was based on the experience of the developer and the borrower's track record.



With the increase in loose credit in the earlier part of this decade, many Mums & Dads tried their hand at development for the first time, and not all succeeded. Many banks funded unsuccessful projects where the borrowers lost money, and sometimes the banks also lost money recovering the debt.



Banks finally wised in the past 2 years, and whether it was due to the global credit squeeze on money supply, or whether it was a case of "once bitten, twice shy", the development loan lenders all now require borrowers to have a certain level of experience.



Experience includes:

* previous project completions,

* profitable project history,

* quality builders with a good track record, and

* professionals such as marketing, and

* project managers to complete on time and on budget.



If you lack the personal experience in the industry or have gaps in your team, you should be consulting with project managers to complete your project, from concept to completion. Project managers like Plan Assist are a one-stop-shop for real estate developers with a team of loan specialists, property project managers and a list of builders anywhere in Australia. They can organise everything from feasibility analysis, town planning and surveying, all the way through to subdivision and conveyancing and completion.



Visit their website http://www.planassist.com.au/ for more information on how they can complete your needs for your next project.