All Forum Posts by: Gerardo Bejarano G.

Quote from @Jay Thomas:

Hi Gerardo,

I believe investing in ground-up affordable multifamily development in Houston is a smart move due to the rising demand for affordable housing and the various incentives available. Key factors to consider include choosing a safe and appealing location and assembling a strong team of professionals to navigate the complexities of the project. Focus on areas near public transportation, job centers, and underserved communities for promising opportunities.

 Thanks Jay.

We are doing good with the #s and the time.

Here are some more pictures from last week:

I'm very excited and looking forward for the next project.

Let me know if you have some lots that could fit into my investment plan.

Blessings amigo!!

Quote from @Matthew Williamson:

What cost per sq. ft. are you thinking you can build these for? How many stories and bed/bath configuration? Your cost estimate seems low to me.

 Hello Matthew. I'M REALLY SORRY THAT I DIDN'T SEE YOUR COMMENT.

I’m currently building 2 homes in front of Lincoln Park Zip 77088 in the Houston metro area.

The Financial Plan is the following:

We are moving along smoothly:

Let me know your comments about this projects please.

And REALLY SORRY I DIDN'T ANSWER TO YOU SOONER 🙏🙏

Thanks Matthew and keep having a great day!

Hello everyone.

Gerardo here.

I'm a New Real Estate Investor from Mexico.

I was reading about the latest news that Fannie Mae expects a "mild recession" in the next few quarters.

Fannie Mae Expects a Recession as Mortgage Rates Continue to Climb—An Opportunity for Investors? (biggerpockets.com)

Where do you think will be a good niche to start in the Real Estate Market in the Houston area?

I have some money saved up and I want to invest it correctly in this changing market.

I would like to invest building Ground Up Affordable Multifamily Developments because of 3 reasons:

• The investment is not that high. I calculate around 90k-120k per Multifamily unit.
• You can develop a strategy and a model unit and continue to make that same unit for the next projects.
• My exit strategy will be to sell the units. But if I can't sell quickly, I could rent them and have multiple cash flow (because of the different income sources of the different tenants in the same unit) and wait for the market to recover and then sell the unit.

Please let me know your comments and suggestions about this information.

Thank you everyone!!

Amigo Dennis how are you?

Thank you so much for your valuable comments.

I will continue to do my DD to see if the numbers add up.

Again, appreciate your help and please let me know any other advice you have!

Regards!!

Hey Mike. How are you? 

THANK YOU SO MUCH for investing your time in these comments.

I will talk to the construction company and ask them to give me more information regarding the project.

Here I attach the floor plan of one home, and it does have a 2 car garage:

When I have more information, I'll be glad to share it with you.

I'll continue to do my DD in order to get all the information right and make the best decision possible.

Again, THANK YOU SO MUCH for your help and if you don't mind, we can continue writing each other. 

Keep having a great day amigo!! 

Quote from @Matthew Rolf:

@Gerardo Bejarano G. what are the quoting you for the lot, replating, and build all together?

Hello Matthew.
How are you doing? 
Sure.
The approximate costs for one single family is:
Lot $43,750
Construction $170,000
Total Investment: $213,750

But we are doing 2 single family in the same lot so it would be:
Lot $87,500
Construction $340,000
Total Investment: $427,500.00

Also, the insurances they are suggesting are:
2-10 Home Warranty.
Home Insurance.
Builder’s Insurance.
Umbrella Insurance.

Do you think that's ok or should we consider other insurances? 
Again, thanks for your comments Matthew.

Quote from @Adeola Oke:

Quote from @Gerardo Bejarano G.:

Hello everyone.

I’m starting my Real Estate journey in the US and I’m about to make my first deal!

A construction company is offering me a 7,200 sq. ft. lot (replan into two 3,600 sq. ft. lots) in Lincoln City, Houston.

The exit strategy is to sell both single-family homes when they’re finished.

I don’t know the area that much, but I’ve seen that there are a few new construction homes there.

The floor plan is 1,759 living sq. ft., 3 bedrooms, 2.5 baths and 2 car garages per house. The Sales price will be around 289k per house.

I’m comparing this project with a very similar new construction for sale of 1,588 sq. ft. with 3 bedrooms, 3 baths, and 1 car spot at 255k.

Would really like to hear your recommendations.

Thank you so much!

 Congratulations in making you great move.

Construction company offering you lot, check if there is HOA and what is the requirements.

Also do you due diligence on the lot and be sure if what is buildable

research more on the area, comparables and average time on market.

Knowing this would give you a good projection. Factor in what if? 

 Adeola how are you?

Thanks for the recomendations!

I'm doing that DD right now.

I've also reviewed the FEMA flood plan and the lot is in a Zone X (Moderate / Low Risk).

Thank you so much for your time!!

Hello everyone.

I’m starting my Real Estate journey in the US and I’m about to make my first deal!

A construction company is offering me a 7,200 sq. ft. lot (replan into two 3,600 sq. ft. lots) in Lincoln City, Houston.

The exit strategy is to sell both single-family homes when they’re finished.

I don’t know the area that much, but I’ve seen that there are a few new construction homes there.

The floor plan is 1,759 living sq. ft., 3 bedrooms, 2.5 baths and 2 car garages per house. The Sales price will be around 289k per house.

I’m comparing this project with a very similar new construction for sale of 1,588 sq. ft. with 3 bedrooms, 3 baths, and 1 car spot at 255k.

Would really like to hear your recommendations.

Thank you so much!