Prepared for lenders, CDCs, and federal agencies to SBA SOP 50 10 8, USDA RD Instruction 5001, and conventional underwriting standards. Fiduciary duty runs to the lender and the agency, never the borrower. More than 4,000 studies since 1998 covering $40.2 billion in evaluated project value.
Subdivision feasibility is absorption analysis under carry: the qualified-buyer depth at the proposed lot or home price points, builder demand and takedown terms for lot-development programs, entitlement and infrastructure cost against finished-lot values, and the month-by-month exposure of the acquisition-and-development loan through sell-out. Phasing is modeled explicitly, because the second phase's feasibility depends on the first phase's evidence.
Methodology uses closed-transaction comparables, permit and absorption series for the submarket, builder-demand review, and engineering-based development budgets independently benchmarked. The model presents lender exposure through the takedown schedule with absorption and price sensitivity.
Every Wert-Berater financial model is fully linked with no hardcoded values, so any reviewer can stress any input. Deliverables comprise a complete narrative report and the linked Excel model, with ten-year pro forma, sensitivity analysis at ±5, 10, and 15 percent, interest-rate stress from +0.5 to +3.0 percent, and ratio analysis benchmarked against RMA and IBISWorld data.
SBA engagements are prepared to SOP 50 10 8, including its debt-service-coverage minimums of 1.15x operating and 1.00x global. USDA engagements follow RD Staff Instruction 5001 across the Business & Industry, Community Facilities, REAP, and Value-Added Producer Grant programs. Conventional engagements are built to the lender's stated coverage standard, typically 1.20x. Land development engagements are conventionally financed in most cases, with the study built to acquisition-and-development underwriting standards — absorption, release prices, and lender exposure through the takedown schedule — and SBA or USDA program screens applied where an owner-occupied or rural end use is contemplated.
The firm's residential-development record includes condominium sell-out analysis at $48,456,000 in Winter Haven, Florida and land residual work across its highest and best use practice, including a $95,000,000 engagement in Durham, North Carolina. Independence is non-negotiable: determinations follow the evidence and are not revised under pressure, and studies are built to pass lender, agency, and third-party review without exception items.
Qualify a project. Tell us about the project and the program. We will tell you the truth about it — scope, timeline, and fee confirmed before work begins.
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