All Forum Posts by: Roque Miranda

Hi all,

Just wanted to check if any fellow investors have any Idea how much will be the cost of construction per SF on the Montgomery area, we are looking at some lots to build a duplex or 4 plex in the area, this will be to build refi and hold, I'm a General contractor in South Florida Miami area, we are now pricing in Ocala FL to start developing new construction and the SF is favorable to build and sale, In Montgomery we will no sale we want to keep the property, we do porches and remodel now in Montgomery and the CF is very nice, but we will like to have better and more solid properties, anyway, if someone can recommend a GC in the Montgomery area well be highly appreciated.

Thanks, all

Hi all,

Just wanted to check if any fellow investors have any Idea how much will be the cost of construction per SF on the Montgomery area, we are looking at some lots to build a duplex or 4 plex in the area, this will be to build refi and hold, I'm a General contractor in South Florida Miami area, we are now pricing in Ocala FL to start developing new construction and the SF is favorable to build and sale, In Montgomery we will no sale we want to keep the property, we do porches and remodel now in Montgomery and the CF is very nice, but we will like to have better and more solid properties, anyway, if someone can recommend a GC in the Montgomery area well be highly appreciated.

Thanks, all

Thank you Mark !! 

Thank you Tom!! 

Hi ALL,

Does anyone have experience with Property Radar?  I'm trying to find a something that can help me reach out to owners directly.

it doesn't mean I will not use my local agent for the transactions, but I think it will be easy for me to negotiate and then have them do the paperwork in the deal for a Comision.

let me know your thought on the software 

Hey Greg,

That is accurate, you need to have maintenance factor in the deal, forgot to do it on the sample, you also need good systems in place, I have a handyman/contractor/ tenant finder that works grate for us, a very good way to check on the property is when you let them know that someone will change the filter in the unite every other month, that's what we do, so far it worked very well, we even remove a tenant because he wasn't taking care of the property properly. But yes, Kyle, decently factor in money for maintenance!!  

I have a claim now with Obie, the adjuster will be on the property today, is a water damage situation, need sub flooring repairs and all new flooring, also base boards some drywall and paint, so far, they are VERY responsive and quick, I will keep you all posted.

Hava a BLESS day everyone!! 

This is +- your return on a 120k purchase with 20% down, factoring in the CC/Insp./appraisal and about 2k to 3k on touch ups, Will be about 30.5k from private at 12%. And 10% reserves, without reserves your looking at almost $500 unprotected cash flow.

If you believe in your market, and you can have someone that can lend you ALL down payments you won't make much CF but you'll make some and grow your portfolio.

NOW you need to make sure you can ADD value and RIFI to pay back your lenders, the key as always will be on the purchase! shut for 3 years RIFI (purchase loans w/3 years penalties only)

This are numbers based on one of my properties in Alabama, I don't do section 8 yet, but I'm looking into it.

I hope this helps, all comments welcome!! in case anyone thinks I'm missing something.

let's help ech other and always push forward, let's go BP Community!!

Bless day to everyone!!!! 
 

Hi ALL,

Does anyone have a good spread sheet for small to mid-size multifamily deal.

Thank you! have an excellent day!!!

Hi Brian, 
I have Obie in my properties now, although I've never filed a claim with them so far, they are the better rates I can find, ask for their tenant liability coverage, I paid an extra 107 dollars a year and they cover up to 100k if a tenant severely damage your property. 

Let's hope we never have to use it!! GOOD luck!