What this brick covers

How the money side of the business is structured, not just raising it once, but designing a capital stack, a set of investor relationships, and a reporting discipline that can carry more than one deal.

This is the brick that decides whether financing is renegotiated from scratch every project, or whether it compounds into something lenders and investors recognize and want to repeat.

Typically comes up when

• Land is secured, but there's no capital structure yet
• Capital structure differs project to project, with no consistent playbook
• The capital stack is fragmented across a growing portfolio
• Debt and equity terms are being renegotiated from zero on every deal
• Actual sales are landing below the forecast, putting pressure on the capital plan