To build or not to build Multifamily development in Miam

[Chidi Nwadike]

Was just offered 340k cash for a property in SW Miami Dade, although a substantial amount and much more than what the property was paid for we would be giving up the opportunity to double or triple the size of our portfolio. The city has rezoned the area and we can now build up to 5 stories of residential or mixed commercial. All we have done so far is SFRs and small multis. I want to explore the development opportunity but going in circles trying to figure out how to get started, or should we just sell and take the cash and put into something already established. 

Thanks in advance.