All Forum Posts by: Fernando Duque

Hi all!

I wonder if someone has a way to use any of the available calculators to estimate the costs of a development project. We only have the land, we need it to estimate the finances of the whole project. I couldn't find one in particular. Can anyone give me a hand with this?

Thanks!

@Junior Picanco congratulations my friend! Stories like this, inspire us newer newbies to keep going! Keep it going! Would love to see your future posts: from newbie to 100!!!!!

Hello @George W. and @Kevin Dang,

Sorry for my late response, I've been traveling and it's been a little hectic around here!

I hear what you say, would you recommend to work backwards? It's what I understand. Probably contacting the architect and wok our way to build the cost structure?

Thanks my friends!!

Sorry for the formatting! 

-----

Here it goes:

Hello everyone! 

We are excited because we are on our way to OUR FIRST DEAL!!! 

I would like to ask a question to see if you can help us move in the right direction. 

We have a lot In which we want to develop small six one-bedroom units that we can rent long term. We want to use private money to finance the project but we are stuck trying to estimate (a biiiig eyeball) costs and potential cash flow to show our potential investors. 

Any thoughts how can we calculate the construction costs? It doesn’t have to be to the very last detail (for now). 

Thanks!

Hello everyone! We are excited because we are on our way to OUR FIRST DEAL!!! I would like to ask a question to see if you can help us move in the right direction. We have a lot In which we want to develop small six one-bedroom units that we can rent long term. We want to use private money to finance the project but we are stuck trying to estimate (a biiiig eyeball) costs and potential cash flow to show our potential investors. Any thoughts how can we calculate the construction costs? It doesn’t have to be to the very last detail (for now). Thanks!

I will try to ask this question as one of the problems in Brandon Turner's book:

Fernando is a newbie real estate investor that hangs out on BiggerPockets.com. He's the type of guy who likes to learn a lot and takes action and is currently looking for his first real estate deal. He recently moved to Tulum, Mexico and while walking around town one day "scouting" for properties, he spotted an empty lot that he thinks has a lot of potential. His goal is to eventually build 8 small studio apartments and rent them out long term; however, he doesn't have the cash available to fund this deal at the moment. 

1. Can he make an offer on the lot before he finds the money, and if so how?

2. What is the best way to fund this type of deal?

@Francisco Cimon Hola Francisco! Thanks for your response! We are trying to begin our real estate business and we thought that maybe flipping houses might be a good start. We partnered with a couple of Mexican citizens that have a strong network and see what kind of deal we can put together. I would love to pick your brain and hear about you and your experience in Mexico, especially how you started and how far you have come. I am currently reading as much as I can on BiggerPockets, buying every book I can about creative investment, finding and funding projects. I believe the start (as it’s being said on literally every book I’ve read) is the most challenging part and I couldn’t agree more. It’s exciting and also a little challenging like every new beginning. Please let me know if it’s in your possibilities to have a quick chat to help this newbie in accelerating the learning curve. We are eager to start with the right foot and take everything into consideration so we can make the fewer mistakes as possible! Again, muchas gracias for taking the time in reading my post and in responding! All the best for you! F

Hi all!

I recently moved to Tulum, Mexico and I am interested in exploring the house flipping market in this town, which has shown tremendous growth in the past few years.

I have experience as a short term rental vacation property manager in Boston, MA where I got my MBA. I have successfully leased over 25 apartment units and I have given great returns to my investors.

Regulations have been tightening up all across the US in the short term rental business which has affected my company. Now, we are looking for new opportunities outside of the US, as mentioned before, in Tulum, Mexico.

I want to take it one step further and start owning our properties. I think flipping is a good way to start and take our business to the next level.

I found the BP podcast and I am a regular listener, and I think I can learn a lot from all of you!

I would like to know if anyone has any experience flipping houses in the Mexican market.

Thank you all!

Fernando Duque

Hello friends!

My wife and I got the "flipping fever" and we are moving to Tulum, Mexico, a city with tremendous growth and great opportunities. 

We would like to know if any of you have had the opportunity to do any flips in Mexico, and if you can tell us the process, your experience or some good tips to start successfully.

We are just starting and any advice will be highly appreciated. We are reading 'The Book on Flipping Houses' by J. Scott and we think it will give us a nice head start; however, we would like to adapt what we are learning to the Mexican market.

Hope to hear from you soon!

Best,

Fernando Duque

P.S. We offer free margaritas to anyone interested in coming to Tulum to talk to us =)