All Forum Posts by: Danilo Grullon

@Jared W Smith

Thanks Jared, the advice is always welcomed.  I will keep your suggestions in mind. 

@Jared W Smith

With all due respect to Architects; setting a standard percentage of cost based on construction cost is not good pricing for customers. They only one benefiting is the architect.  If the market price for a build is $300 per sq ft but I can get it done at $240. So you still want 10% for performing the same work? Not tying to cheap out, just not buying into the high prices. 

@Evan Polaski

All I need is plans to my taste, simple flat land construction, nothing over the top. I've been quoted $90K for plans only which is absurd.  I'm not requesting a frank loyd wright design, basically, I'm looking for a modern style that we see all over the internet.  I'm certain they buy a template online or pay an overseas drafts person $2000, then charge $90K for minimal work. I will most likely buy a design and hire a draftsman to make city required edits, then hire an engineer.  I assume that this is the most cost effective route.   

@Branden Rivero

Thanks, it's City of Miami. Unfortunately, I have dealt with them and know firsthand their horrible reputation.   I will be paying them a visit to learn more about their requirements.   

@Maura Winkler

I own a property in Las Terrenas, I paid cash using cash-out refinance in US.  Scotiabank is the most popular bank in DR for foreign buyers.  I believe that they also provide construction loans for primary and investment properties. You may need to fund 40-50%.  

@Robert Ellis I will message you, thanks 

@Dan Slaughter Thanks for your response.  I have not chosen a builder yet, but you bring up a great option to consider. Going directly with a builder template or draftsman will reduce the design costs. I've come across agencies advertising on Facebook and Instagram that offer very cost-effective designs. Would you recommend buying a design and then hiring a draftsman for edits and engineer to stamp it? the sale of the design includes CAD files making it easy to implement changes.  Any reputable draftsman and engineers licensed in Florida that you can refer would be appreciated.   

Thank you

Hello fellow investors.  

I'm looking to build a single-family house in Miami and interviewing architects.  The plan is to build a modern two-story 3200 sq ft house, 4 BD, 4.5 BH house with a garage.  The architectural quotes I have received for design, city review changes, and all construction docs are extremely high.  I'd like to hear from the community what's the average architectural cost that I should budget for the design that I'm looking to build.   

Thank you in advanced

Hello fellow investors, thanks in advance for your advice and suggestions.  

Here is my scenario; I have a lot that I own outright. New constructions in the neighborhood are selling for a significant amount above construction costs (double or more the market value of the land).  I'm looking to build a spec single family, the problem is that I don't have W2 income as I'm transitioning in my career.   I have investment properties with some equity that are cash flow positive, allowing me to live off of my rental income.   There may be some equity that I can tap into depending on the DSR however,  I'm looking to see what other funding options are available to cover construction carrying costs that do not require W2? As for the construction loan itself, I'm not concerned as many available options will cover 100% of the development,  

Thank you