All Forum Posts by: Andres Zapata

Hi ALL, 

Happy new year and much success for those looking to take action and are taking action to better themselves!!!. Another quick update on my project.... we had to fire our drafter due to his zoning inexperience and lack of work ethics, thankfully the mistake was caught on time, and we were able to hire an architect with much experience and great results. (lesson learned :)... this hiccup will delay us 3 months but we are so excited for the journey my wife and I embarked on and cant wait to finish it and keep the momentum going!!. After much thought and brain storming we decided to go and build our home with a 2/2 in laws apartment and build the equity need it to keep buying properties. Finally we are getting permit ready and dealing with the city. Expected to start construction on March 2022. Main strategies are still BRRRR and house hacking. The ARV for a two story home in this neighborhood with about 3700 sq ft is above 1.7 mill. The construction cost still under 250k based on the latest design and schematics. Over all cost will be 870k. Will have another update coming soon!!!!!

Have an amazing and successful 2022!!

so Here is a quick update, I just closed on a property 620k, single family home "off market" driving for dollars strategy, zoned for two townhouses, each townhouse can sell for 1 mill or refi for about 750k. the estimated budget is 220k per townhouse. Currently Im drawing plans, and working with my drafter. The neighborhood is the Roads which is next to downtown Miami. will keep you guys posted!! I will be house hacking this home then move to the next one. Main Strategy is BRRRR.

Thank you for the feedback, I also found a townhouse that was built three houses down and it sold for 1.3 mill in 2018, there is another townhouse selling for 1.7 mill right now, also in the same block.  As far as My experience I have done 6 fix and flips in which there was a lot of permits, violations and even demolition orders I had to deal with. Again thank you all for the feedback, keep it coming!! 

as far as duplexes and triplexes there are not too many comps, Im going to see the property at 11 today, will let you guys know what happens.  

Currently I’m looking to buy a 600k old 2/1 home in downtown Miami. Avg Square foot is 459$- 500$ in that area. I want to build a three story triplex, I checked the zoning as well and I can build up 5 floors. After a preliminary research I have found two GC that would charge around 150$-200$ per square foot.  Is it a good idea to build or buy an existing triplex?  Anyone here from Miami or any similar city to this market that has done this type of deals?  

Thanks you