Sample Real Estate Business Plan

I met with a real estate finance executive recently and asked him about getting experience working on some deals here and there. He mentioned that many people slowly built businesses by buying properties with hard money loans, fixing them up and borrowing against them to buy more properties, etc. When these people get big enough for the major banks to notice them they need what is essentially a business plan to submit to potential investors. This could be a niche I could get into. While I am more familiar with standard business plans for technology and media companies I am unfamiliar with business plans for real estate related businesses.

I went looking for sample real estate business plans and found one on bplans.com from MSN Real Estate. There is an HTML version and a .pdf version. The URL is:

http://www.bplans.com/spv/3183/

There is a link to the .pdf version on the page.

The project is for a multifamily rental property in Oregon. From what I can see it is not ridiculously different from non-real estate business plans. It does give me an idea of what kind of information is necessary for a real estate market analysis.

The only drawback is that this business plan was written by software. I would like to get my hands on a real business plan for a real real estate project.