Construction of new SFR, Lehigh Acres FL

[Alci Martinez]

Investment Info:

Single-family residence other investment in San Diego.

Purchase price: $65,000
Cash invested: $235,000

We are thrilled to announce that we have secured a construction loan from BackFlip to complete our project: the construction of a single-family residence (SFR) on the beautiful West Coast of Florida! 🏡🌴.

This achievement wouldn't have been possible without the incredible support and partnership of Capital Construction and BackFlip. A huge thank you to both teams for their dedication and hard work in making this project a reality.

We are excited to see this project come to life and contribute to the growth and development of the community. Stay tuned for more updates!

What made you interested in investing in this type of deal?

My interest in investing in the construction of a new single-family residence (SFR) on the West Coast of Florida was driven by a combination of factors. The area's stunning natural beauty and thriving real estate market present a unique opportunity for growth and development. I have always been passionate about creating quality homes that enhance communities and provide families with exceptional living spaces. This project allows me to bring that vision to life, combining innovative design with

How did you find this deal and how did you negotiate it?

This particular property belonged to an investor who didn't want to finish the project. I was able to negotiate a package that included the land, some of the materials, and the permits to build it.

How did you finance this deal?

For the acquisition I used my own funds, and for the rest I was able to secure a construction loan with the folks at BackFlip.

How did you add value to the deal?

Mostly by securing the financing and managing the project, I was able to meet all of my deadlines.

What was the outcome?

I have multiple offers.

Lessons learned? Challenges?

Be sure to thoroughly vet your general contractor. I had to switch GCs mid-construction due to differences in work ethic. Navigating the county's bureaucracy and timing the expiration of the construction permit were crucial. Successfully transitioning to a new construction company that took over a project already underway was a challenge I managed to overcome.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with Sandra Aguilar, I local RE agent.