What are you currently working on?

Question

Hey Everyone!

What City are you from and what is a current R.E project you are working on?

I love working with out of state investors and helping them find cash flowing investment properties.

Karl B. · Answer

Erie, PA. I'm working on a 4 bedroom apartment at the moment. I'm currently painting the white trim and am installing cordless window blinds. So much fun. :-)

Travis Biziorek · Answer

I live in Arroyo Grande, CA but invest mostly in Detroit.

I have a handful of projects going on right now.

1) I'm near completion of a full-gut rehab on a duplex in Detroit. We'll be in to it for about $160k and it should appraise for $200k+, so not a slam dunk but we'll be renting each unit for $1,300/mo. The cash flow will be fantastic even though I won't get all my money out.

2) We've got the ball rolling on an ADU here at our primary. Preliminary plans are done and approved with the city. We now need to get soil reports done, a structural engineer involved, etc. so we can firm up the plans. We've started receiving quotes from contractors and are pretty happy with the cost of new construction. That said, we're heavily debating acting as our own GC so we can learn more about ground up construction as that's something we're interested in doing in the future.

3) I'm constantly buying, selling, and renovating properties in Detroit for fellow OOS investors. I have such a strong network and deal flow that it just makes too much sense not to do it. I can't do all the deals myself, so why not help friends, family, and other investors get started in that market?

Having a ton of fun with all these projects and looking forward to a strong 2023!

Snehann Kapnadak · Answer

Building my team! I’m out of state but love KC, currently looking for a partner in the market who has experience with the construction side and who’s looking to get into small multifamily. Meanwhile I’m working on the other logistics: tax, legal, insurance, etc.

JP Coghill · Answer

Wrapping up a new construction 7 unit in Los Angeles, mid way on a 5 unit new construction in Los Angeles, about to break ground on 5 units in Los Angeles, have a 7 unit building in plan check in Los Angeles, and working w architects on a 4 unit ground up town house project in Inglewood.  Turning a couple units in Compton, turning a couple units in Denver, looking for an upleg in Denver in the 3-4MM range.

Michelle Bateman · Answer

From Kansas City - currently working on completing a BRRRR and actively searching for our next investment prop! Specifically looking for mixed-use!

Ricardo Hidalgo · Answer

Lot 16 Anne Santa Rosa Beach (Build a Short Term Rental)

Finance lot and home construction together

Build Time: 5-6 months

Purchase Price of lot $177,500

Cash investment with downpayment and bank fees for lot purchase: $37,598

Lot appraised for $220,000 (I have made 105% return by just closing on lot.)

Construction Cost $375,000

Architect Plans $6,000 (paid upfront)

Cost to furnish $30,000 (paid upfront and not wrapped into loan)

Interest and Fees to build $12,000 (carrying cost)

Total Cost of capital: 240,698

Final Loan amount when construction is done: $361,900 (add loan amount of construction and lot together. 30% downpayment is the requirement for construction to perm loan.)

Value of new construction $825,000 to $850,000

Property 2

Bought Property: 05/01/2023

149 Damon Circle Panama City Beach

Financed with interest only loan

Renovation time: 5 weeks

Purchase price: $250,000

Cost to buy with fees: 55,000

Renovation cost: $40,000

Furnishings: $15,000

After Repair Value: $350,000-$375,000

2 projects we are working on! passing permitting on a few more lots to start building.

Amir Khan · Answer

Account Closed was this in Kansas City, MO? Did you do it yourself or did you have partners? What is your exit strategy?

Mackaylee Beach · Answer

So much fun! :)

I recently finished a full rehab of a 10 unit apt complex.

Kurt West · Answer

I'm currently designing a couple STR projects:1. Glamping cabin (600-700sf).  Now looking for a piece of land near me to build it on.  This is my project.2. 12 unit (small but not tiny home) community for a client in Virginia. Small college town, urban setting.

What are you currently working on?

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