All Forum Posts by: Devin James

 Good to know

In the grand scheme of things, its not a huge deal. What is a big deal is our response and reaction to the issue.

Good question, i'm not sure how the HOA will manage STR.

The Villages is building a new community center & hospital 4 miles away, so there may be a market for it.

My siblings and I are building a home in North Port, FL.

Here are the numbers:

Finished Home Value: $412Kish

Land Cost: $19,750.39

Construction & Permitting Costs: $304,897

Additional costs:

- Environmental Site Assessment

- General Liability Insurance

- Builders Risk Insurance

- Construction Financing

We will be listing the home this week

Photos coming soon!!

Last week, we had an issue with the plumbing in a home we sold.

The buyers moved in, used the water, and some areas of the home started flooding.

We sent vendors out that same day to investigate and fix the issue. Turns out, during construction, one of our vendors flushed something down the toilet, causing a clog, which led to the system overflowing and flooding the home.

We ended up having to cut and replace drywall in multiple rooms and swap out the wet carpet, which will cost us around $10K.

Mishaps like this will happen in Real Estate. Don't get too low, it's part of the game.

The important thing is how you respond. It sucks for the new Owners, but they appreciate our timeliness in getting it handled and understand that stuff happens; not all Buyers are like this.

**Lesson: Camera the sewerage line prior to each closing.**

• @Jon K.
• The average return is not the same as an annualized return, as it ignores compounding.
• Your calculation takes compounding into account.

https://www.investopedia.com/terms/a/averagereturn.asp#:~:text=Key%20Takeaways-,The%20average%20return%20is%20the%20simple%20mathematical%20average%20of%20a,return%2C%20as%20it%20ignores%20compounding.

Why we don’t like ARR (Average Rate of Return)

It’s easy to skew the numbers.

Here's an example of a positive ARR of 12.5%, but the investment loss is $50.

Year 1

Start Value: $100

End Value: $25

Annual Return: -75%

Year 2

Start Value: $25

End Value: $50

Annual Return: 100%

ARR = 12.5%

Am I missing something here?

Which calculation do you dislike and why?

 This is my first time hearing this.. SO good!!

Zillow came out with data showing that in May, new construction homes sold for $3.50 less per foot than existing homes (Nationally), the largest discount in at least six years.

In Orlando, this discount is at $2.60 Sqft

In Tampa, this discount is at $40.80 Sqft

Info skewed? Probably

What does this mean?

Article Below

https://www.zillow.com/research/new-con-existing-price-34235...

My pleasure! Its important that we put ourselves in situations that force us to fail. If its easy and been easy for a long time, you haven't challenged yourself.

Last week, I had a call that I was totally unprepared for. I didn’t know the details about a project we’re working on, and it showed.

Lesson learned: Always prepare thoroughly before each call and be ready for unexpected questions.

Failures like this are uncomfortable, but they're how we grow. The only way to improve is through those moments where we fail. 

If you aren't failing, you aren't learning.

What are some recent failures of yours?