All Forum Posts by: Michael Frank

I am a contractor in Southwest Florida nearing completion on a new construction home (Home A; 3 bed, 2 bath, 2 car garage, 2500+ sf, a pool). There is no mortgage and I estimate the value to be about $675,000 when finished.

My original plan was to sell the home (A) and use the money to begin construction on 2 additional homes (B and C) but I am interested in the possibility of renting home A out for the cash flow instead of selling it. I would still need to pull out around $450,000 from the home to continue to run my business and to begin construction on homes B and C. I feel like the rental income from home A would enough to pay off the $450,000 loan to build homes B and C while still maintaining ownership of home A.

Are their any experienced investors that can weigh in on this and help me analyze this situation? What is my best option here?

I appreciate any help you can offer,

Mike

@Sara Aviv Berger

I am a home builder in Cape Coral. Please, let me know if you would be interested in speaking.

Thank you,

Mike

I am a building contractor interested in building a multi family building between 4-8 units in size.

Can anyone offer advice on where to locate vacant land suitable to build on? Most of my online searches are turning up existing buildings.

Fort Myers / Cape Coral area

Thank you,

Mike

What advice would anyone have for someone with a Florida building contractor’s license and roughly $100,000-$200,000 in capital who is interested in getting into rental properties? (Southwest Florida)

Thank you in advance

Thank you, guys. I don't expect 1 unit to be a mountain of work as long as I do my job up front. Like a lot of people, I was interested in the scaling up in the future.

I am very interested in trying the house hacking concept in the near future with a duplex and I am still in the research stage. I'd really like to know how much of a time commitment being a landlord is before diving into it. Can any landlords share their experiences? Obviously this answer depends on many different variables (number of units, if a property manager is used, age of properties, etc) so please be sure to include any information you feel is relevant to the topic.

Thank you in advance!