All Forum Posts by: Juan Carlos Castillo

@Hilary Stalder congrats!! You are goals! Great job!

@Austin Fox

I can draw the plans, do the calcs, and permitting, but I think it would be a bigger job than it worth. I don't think you'd ever raise the arv estimate high enough to warrant all that work.

@Austin Fox

I'm looking in the same general price range in South Florida, in what neighborhood/area did you find this property? I've been looking for duplexes in the rougher areas of pompano for around that range and it's been tough, the biggest issue i face in rougher neighborhoods, isn't the neighborhood itself but the lack of central A/C.

Although from an architect/contractor perspective, might be worth getting a quote from an HVAC company for a full design and install...

@Ben Bartels

Yassssss

Before & after pictures pleasee!! 

Congrats!!!

I reached out to the owner who informed me he actually sold the property last month. So here's a link and the address for a fun game of do you think this would have been a good deal. lol

4151 NW 3rd Ave, Pompano Beach, FL

https://miami.craigslist.org/mdc/reo/d/pompano-bea...

What really interested me about this property is the fact that not only is it a duplex, but it seams to be a easy fixer-upper. Since my bosses construction company has a milling machine and roller, I could have done the asphalting for dirt cheap.

I would still love to get peoples inputs on the property. @Share Ross

I reached out to the owner who informed me he actually sold the property last month. So here's a link and the address for a fun game of do you think this would have been a good deal. lol

4151 NW 3rd Ave, Pompano Beach, FL

https://miami.craigslist.org/mdc/reo/d/pompano-bea...

What really interested me about this property is the fact that not only is it a duplex, but it seams to be a easy fixer-upper. Since my bosses construction company has a milling machine and roller, I could have done the asphalting for dirt cheap.

I really want to buy a duplex in my local market (South Florida), but think that might be a little out of my price range for my first property. I have been previously pre-approved for $185k and have paid over $20k in debts since then. 

I managed to stumble across a Duplex (4/2) for $175k in Pompano Beach, but its kind of in the hood and needs a good amount of repairs. The ad says its a lot of cosmetics, but only has one picture of the exterior and already you can see it needs all new sod and entirely new driveways. When I try to look up comps, I get a wide range of numbers but mostly over $200k. I found one website that says it values the house at $230k, but can't seem to pull it up on the property appraiser.

What steps should I take to make sure this is a good deal? Should I hire an appraiser/inspector/real estate agent or could that dig into my profits?

I really want to buy a duplex in my local market (South Florida), but think that might be a little out of my price range for my first property. I have been previously pre-approved for $185k and have paid over $20k in debts since then. 

I managed to stumble across a Duplex (4/2) off-market for $175k in Pompano Beach, but its kind of in the hood and needs a good amount of repairs. The owner says its a lot of cosmetics, but only has one picture of the exterior and already you can see it needs all new sod and entirely new driveways. When I try to look up comps, I get a wide range of numbers but mostly over $200k. I found one website that says it values the house at $230k, but can't seem to pull it up on the property appraiser.

What steps should I take to make sure this is a good deal? Should I hire an appraiser/inspector/real estate agent or could that dig into my profits?

You seem to be more experienced than me as a developer/PM, but first thing is always to take quantities, if your designs are so preliminary that quantities may change drastically and you're worried about going over-budget you should probably simplify/scale down your design. Here's a pretty popular book for estimating quantities and construction costs though.

http://gen.lib.rus.ec/book/index.php?md5=F9BC7DBB3...