All Forum Posts by: Igor Balakhnin

@Sandra Sandifer We should be able to help you out. Happy to talk.

I'm Agent/Private Capital Lender with experience in fix and flips and development located in Northern California. Also happy to talk.

Building ground up defiantly takes a lot more knowledge vs rehab. Although from lenders perspective if you have done handful of successful rehabs, you should already have a pretty good understanding of the process, and can have an easier time to obtain a construction loan.

Also Development (building multiple houses at the same time) will require additional skillset vs one house at a time.   

@Charles Burgess good job trying to jump into development, and doing some homework prior to that. BP forums is an amazing source to get guidance from where to start. A lot of great recommendations from everyone. I would suggest checking with your local building department as one of the first steps to determine if they would even allow anything to be built there. That would save you time from going deeper into due diligence on that particular lot. Once everything checks out i would also suggest checking with builders risk and homeowner insurance that they will be able to write a policy during construction and after.

@Quentin RCollins New construction could be tricky with the costs, especially if you are just starting out. Are you planning to hire GC to build it for you start to finish, or you are planning to run the project yourself? Just that alone could impact your cost. But no matter the route you take make sure to budget at least 30% more than what you plan for.

Hi,

as far i was aware this whole time when you owner occupy your duplex one side and rent the other for 2yrs and you sell it within 5yr period there is no capitol gains tax. Is that statement true? I'm getting a lot of different responses. Anyone had this experience before, and what happened? Thanks!

@wesley Davis thank you i've messaged you back.
@Alvin Taveras

@Alvin Taveras

@Alvin Taveras That's actually what i've noticed it's cheaper or about the same to build a house there vs buying older house for around same price.

Hello everyone i'm looking to start my rental portfolio in Florida. I'm looking into north port area as returns seem to pencil out. Anyone know good realtors in the area that work with investors? Also anyone had experience investing in north port? Thank you guys.