All Forum Posts by: Jermaine Chad Ingram

I am a newbie developer in Florida and I am going to partner with a contractor to build new homes to lease. I think I would need a lawyer to write up the agreement as to what our duties and responsibilities to the partnership are going to be. Is there anyone on here that could help me in the state of Florida for a reasonable price as I know it is something that I am must do to secure my project

So I’ve acquired my a lot it’s 7500 ft.² and I’m putting the finishing touches on my primary floor plan

I think it’s time that I look for a contractor. not only to guide me on any issues they see in my floor plan and design, but also to start to collect estimates

what do you think is the best way to go about this. Do you think I need to have fully finished MEP, elevation and site plans or do I find the contractor first

I’m gonna use these post as my own personal diary hopefully people can help me along the way.

I started two years ago buying tax liens because I read, Rich dad poor dad, like everybody else and eventually I acquired one of the properties at auction

tax lien for $250

additionally paid $3500 to settle all outstanding liens and to pay any fees so now I have a 7500 square-foot corner lot 6miles from the beach.

The lot has an $8500 impact fee credit because the previous house on it was demolished

I am in the process currently of filing the TDA for five of the adjacent lots to create a 45,000 square-foot swath all dedicated to a Coliving Model, 6 miles to the ocean

Now I’m starting to collect bids from contractors to build a 3/3 bed/bath 1340 square-foot dog trot style house for our first shared space

I’ll let you know how the bids come in and just for reference I’m trying to do all of this on the East Coast of Florida

@Jason Etheridge costs in broward are really high right now. Have you calculated the soft cost? County impact fees per unit? City impact fees per unit Utility infrastructure fee per unit, fire suppression whole building, closing cost, permit fee, engineering stamp fees, fire walls before you buy a single brick. Not to mention land costs.

That said there’s fantastic demand in broward.

My whole project is built around the coliving model. It makes life more affordable and less lonely. I think coliving can work anywhere.

@Jordan Stanley I use LienHub.com and RealAuction.com. A quick google search for your county and tax liens should show you vendors in your area. Don’t pay a large premium.

You should be able to find a tax lien, tax deed, and tax deed auction section of your county clerks office.

There is a such thing as a ****** lien. liens on properties that are way too small to build anything, liens on medians, liens on properties in really really bad neighborhoods that you’re never gonna want to build.

so you have to be careful and do some research about where your lien is and how much is actually owed. in Florida, in order to “foreclose” on a property, you must own all the outstanding liens. so when I paid $250 for a lien I then had to pay about $3500 to settle all the other outstanding liens. I was able to acquire the property for $4100 and it’s a 7500 square-foot lot, jogging distance from the beach.

I am currently going through the same process with 5 adjoining lots hopefully in the end I will have a 45,000 square-foot piece of land, jogging distance from the ocean.

all in all, it should probably take about a year and a half to acquire each lot as I am not going through the process on all of them at one time hoping that I have a better chance of acquiring it piece by piece. if someone were to outbid me at the public auction I would lose the property but get my money back

@Jordan Stanley

where I’m focusing in Florida the county auctions off Liens where the owners owe taxes you might be able to find homes or vacant land that you can buy for the amount of taxes owed in your area of focus

I’ve recently found out that the area I’m focused on is an Opportunity Zone. So you might wanna focus on buying liens in an opportunity zone or looking for lots and properties in the “auction for taxes owed” in your county

@Jordan Stanley

So far I have been able to buy tax liens all over the state of Florida and I’ve had a good 18% return on my money as well as being able to acquire a couple of the lots that I where bought the liens

I started out with very little money and I am right now in the process of having the architect draw up the plans for my coliving house that I’ll put on the lots that I acquired

I’m working on a Coliving House Hack

@Jordan Stanley do you have capital or are you piecing it together as you go.

@Jordan Stanley hey man I’m just starting out here in Florida.

Do you own a house or raw land now or are you looking to buy something to rehab and rent out?