Pre construction Multi-Family Project Bid

[Tammy Pimienta]

Hello again BP Community!

I need a little assistance or advice on this construction proposal provided to me by a company in Florida for a new construction multi-family build I would like to start on my own land and personal property.

The lot has been split into 3 parcels. This is enough for at least 4-6 doors. So far I haven’t settled in my mind on what would be best. However, my intent would be to eventually have cash flow and long term rentals combined with short term rentals to maximize. 

So far, up speaking with the developer they are telling me that my costs may be around the 2 million dollar range which is unheard of (for me) and the area in which I want to build in. I am not sure if this sounds right or if I should get additional bids/proposals because the price range seems a bit astronomical and out of reach for me.

I have reviewed the document over and over but somehow I am not quite sure now if this is something I want to delve in or approve to move forward. There are items in the document that they have me being responsible for aside from the 2million price point they gave me w/o seeing the actual plans. 

I don’t plan on moving on this because I for one don’t have all the numbers. Secondly, I am not sure if I want to go with the townhomes instead of duplexes to save on costs. I feel that I am missing something in the process although I am in no rush to make my vision come to life.

Please review the documents they provided me and let me know if the is sound’s legitimate. This is a pre-construction phase of things.

Respectfully,

Tammy