All Forum Posts by: Tahreak Robinson

I've been doing this for 20 years, and I still think buying existing properties is the best option. Building new sounds great, but it's usually way more expensive per square foot when you factor in land, materials, labor, and permits. Plus, it takes a lot of time to get everything approved and built. With existing properties, you can start earning rental income faster and build equity through sweat equity by making improvements yourself. You might have to lower your cap rate expectations in the short term, but it's worth it for better long-term gains. Overall, it's just a smarter investment in my experience.

I'm not only a lender, but we've been doing new construction in the Tampa Bay area for many years. My wife is actually an account exec for a Development Lender up to $20M and my company lends up to $3M. That being said, the first question we have is "what is your level of experience". Even though I had been lending already when we started this company during the last crash, I still partnered with someone more experienced than I and I learned. An architect and a GC are only a part of the formula. There are courses out there, but I've found few if any of them actually know what their doing and give good advice. Partner on 3 or 4, then head out on your own, but you'll need to identify what you bring to the partnership. Capital? Construction Experience? The lot? The Tampa Bay area is a great market, but using any site of blog to learn construction isn't something that you'll be able to do successfully. Good luck to you.