Quote:
Originally Posted by ChiTownWonder
do you have to be rich to be a developer? isnt it more about loans and financing?
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Generally yes
for a conventional bank loan you will need liquidity. Banks need to be comfortable knowing someone will step up and fund the project if it goes over budget
But there's other ways to skin a cat
you can find a rich partner and give him a piece of the backend for guaranteeing the loan
you can get a hard money loan