All Forum Posts by: Al Enrique Canall

Hi fellow BiggerPockets member,

I'm moving forward with a CRO (commercial, residential and office) property in Central Florida.   

The deal size is nothing that will make us rich, nor poor, but my associate and myself have no experience investing in such properties.

I'm in need of your help!  

Hoping to answer these questions:

1. The property is considered historic, so I assume there are many remodeling/construction restrictions - any thoughts and opinions about historic properties?

2. The property has a long standing tenant in the bottom, and has an apartment on top which has traditionally been used as an office - thoughts on how to treat it? Turn it full commercial? Full residential? both?

3. The property is very unique: has a chapel, 25 car parking lot, a huge attic currently used for storage - do these post limitations into what to do?

If you're interested, we're more than happy to pay for your time to get a full analysis from an experienced professional, ideally in the area.

Thank you!

@Jack Bobeck, will do.

Thank you. 

Thank you for your replies!

Very helpful.

Will keep you posted!

Hi BP Community!

A month ago I closed my first Duplex in Jacksonville, FL. 

Total: $141,000

Cash: $27,000

But now, I'm very confused onto what to do next.   

I'm needing to make some minor fixes to the property, mostly cosmetic, and am being advised to fully rehab the bathrooms as these bring great perceived value to the property appraiser.  
Bathrooms are Ok, fully functional and spacious, but with an older 1990's look.

I bought at $50/sqft and with rehab and repairs costs it's going up to $60/sqft.  

I'm looking to refi at around $75-$80/sqft and have an 8% cash on cash return once the property is rented.

My question is:  should I also include bathrooms in the rehab? Do these actually make a big difference when appraising a property? 

Would love to learn from you!