OK so assuming your numbers are at least somewhat accurate:
Land: 800k
1.7m total construction cost
2.8m potential end sales.
Gorss Margin is 500k or, 20%.
Not too bad, assuming the numbers are decent.
With regards to "We have no projected sales. We will build and hold". End sales is very important because if you want to at least get a reval at the end to do more development/investment then its important, and it also justifies the risk involved,
Land: 800k
1.7m total construction cost
2.8m potential end sales.
Gorss Margin is 500k or, 20%.
Not too bad, assuming the numbers are decent.
With regards to "We have no projected sales. We will build and hold". End sales is very important because if you want to at least get a reval at the end to do more development/investment then its important, and it also justifies the risk involved,