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Horizontal Development Workflow

2 Different Paths for Issachar

18 Month Projects

Embry identifies a project for
Issachar Capital Group

Embry performs due diligance

1. Review project, write contract, draw concept site plan, meet with municipality 2. Create zoning site plan, file zoning application with the municipality 3. Zoning process – public hearings for planning commission and city council/board of commissioners for approval of final rezoning 4. ALTA survey, Geo Technical report, Phase 1 environmental report 5. Engineer starts drafting development plans to be filed with municipality 6. Municipality reviews and comments on plans for revisions 7. Approval of plans. Issuance of land disturbance permit (LDP)

2
National Builder

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Builder presents completed due diligence project with LDP to Embry Development

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Embry performs due diligence /
Double checks the Builder

1
Embry Development

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Embry presents project model to Issachar fund

Project Model Example | 125 Lot Subdivision 

Totals

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Land Cost
Development Cost
Total Development Cost
Builder's Deposit 15% *
Running Total
Carry Cost *
Running Total
Investors 18 Month Return 18%
Construction Cost
Sale Price
Total Cost
Builders Deposit

Developer's Profit

$1,875,000
$6,875,000
$8,750,000
-$1,312,500
$7,437,500
$892,500
$8,330,000
$1,499,400
$9,829,400
$12,500,000
-$9,829,400
-$1,312,500

$1,358,100

3
Project opens to Lenders

  • Lenders have the opportunity to participate in the new project.

  • Issachar loans money to Embry Development for horizontal development cost.

  • Lender's contract is effective the day Embry receives the money.

  • Issachar is recorded as first lien position in the deed.

Embry develops the infrastructure of the project

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Horizontal Development Phases

  1. LDP Filed with Municipality

  2. LDP Approved

  3. Clearing and Erosion Control Starts

  4. Grading Begins

  5. Storm Drains and Detention ponds installed

  6. Sewer Installed

  7. Curb & Paving Installed

  8. Water Lines & Services Installed

  9. Amenities Installed (If Applicable)

  10. Final Plat

  • At the end of the project when it is sold to the builder, Lenders are paid 1% for every month they were in the project plus return of principle        

  • Maximum of 18 months and a minimum of 6 months

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