All Forum Posts by: Patrick Bavaro

@Cj Powderhorn highly recommend moving forward. Currently I’m building a 4/3 new build in Cape Coral. Total all in cost is about $265k and I financed It at around 3.6% with 10% down. Rents right now are at about $2300 and climbing. Currently post construction appraisals are coming back at $340k-$410k depending on location of the property. So, I find myself in a position to sell and make a quick $100k return potentially, or keep It and rent for the cash flow and future appreciation growth. Not a bad position to be in! I’m happy to tie up $30k for a potential 3x return for Only a year, OR keep it as a decent LTR as a new build. I’d be happy to connect to share experiences. Good luck!

@Connor Cushman I agree with you. 10% second home loan! Best interest rate you are going to get for what you're looking to do and not as much cash out of pocket. I am doing the same. Currently I'm building a 4/3 new build in Cape Coral. Total all in cost is about $265k and I financed It at around 3.6% with 10% down. Rents right now are at about $2300 LTR/$4500 STR and climbing. Currently post construction appraisals are coming back at $340k-$410k depending on location of the property. So, I find myself in a position to sell and make a quick $100k return potentially, or keep It and rent for the cash flow and future appreciation growth. Not a bad position to be in! I'd be happy to connect to share experiences. Good luck!

@Jason Lagan from the other builds with the same designs that have already been built

@Vincent Chen hey Vince, I’ll send you a DM! Glad to see another fellow SoFlo member!

@John Rankin amazing job and congrats on taking the leap! I dont invest out of state yet, but do out of market by about 3 or 4 hours away. Currently I’m building a 4/3 new build in Cape Coral. Total all in cost is about $265k and I financed It at around 3.6% with 10% down. Rents right now are at about $2300 and climbing. Currently post construction appraisals are coming back at $340k-$410k depending on location of the property. So, I find myself in a position to sell and make a quick $100k return potentially, or keep It and rent for the cash flow and future appreciation growth. Not a bad position to be in! I’d be happy to connect to share experiences. Good luck!

@Corbett Brasington earnest money is literally a good faith deposit

@Brian Brown hey Brian, sure thing. PITI is around $1425 right now (estimate based on closing disclosure). Rents right now are $2300/mo before accounting for vacancy, capex and I plan to self manage. For capex, I'm not expecting any major repairs for the first 3-5 years at least, but that could always surprise me of course. The alternative (which I think I'm leaning towards) is to sell. My build price is $240k, and low appraisal end is starting around $340k. In 6 months, when the build is done, I'm estimating It May be slightly higher. Should It be at $340k though, I'd still be selling for a $75k profit ($25k for the land originally). If it's higher, even better! Not bad for a 1 year hold and only $25k or so out of pocket. Hope this helps

@Christina Colon love homosassa. Would you share your builder contact with me? Sending you a message

@Dan Bass no time like the present is what I tell myself, ha! Just sent you a message

@Suresh Kannan congrats and nice jo! Action is the key in your recipe. I am in the same boat! I went from zero to 3 in about 6 months in 2021 after 2 years or more on the sidelines.

Currently I’m building a 4/3 new build in Cape Coral. Total all in cost is about $265k and I financed It at around 3.6% with 10% down. Rents right now are at about $2300 and climbing. Currently post construction appraisals are coming back at $340k-$410k depending on location of the property. So, I find myself in a position to sell and make a quick $100k return potentially, or keep It and rent for the cash flow and future appreciation growth. Not a bad position to be in! I’d be happy to connect to share experiences. Good luck!