Recently Completed Build 4 Rent in Florida

[Brock Holliman]

Investment Info:

Single-family residence other investment.

Purchase price: $22,500
Cash invested: $128,000
Sale price: $195,000

New construction, 4/2 - 1600 Sq ft - Concrete block construction. This is a brand new, build for rent recently sold to an investor. Like all of our new builds, this one was built with both the investor and the tenant's' interests. Very trendy with a warm modern stye, all tile floors throughout entire house, solid wood cabinets with soft close, quartz countertops, stainless steel appliances, walk in shower with rain head fixture, double vanity master bath, walk in closet. All of these features help the tenant find a better home with more upgrades along with providing the investor with a quality home built to last and sure to perform much better with low maintenance and turn costs.

How did you add value to the deal?

When building from scratch, you are almost always going to add value to the deal (as long as the lot & build costs comply with the average sales price psf).

Lessons learned? Challenges?

Since this was my first go around with new construction in Florida, there were a lot of learning curves (as to be expected). The main problems faced had to do with terrible contractors on only a few key issues which in turn put us over budget in those categories only. But we still managed to come in ahead of schedule with only a 7 week build time from start to finish and ready for close!

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

Yes, although I am licensed myself, my principal broker (one of the best agents I have worked with & now a great friend as well) Jean Gillen helped to make this a smooth transaction by bringing an investor buyer to the table pre construction. She is a true professional when it comes to working with investors in the Central Florida market.