All Forum Posts by: Jeffrey Chan

Thank you all for the warm welcome.  I'll be checking out the resources that Craig recommended.  Good luck to you all investing in the coronavirus era!

More reinforcing bar installation for the mat slab concrete foundation

It all depends on the deal but house hacking is doable in the city of Miami. I purchased from a wholesaler a SFH for $170,000. It was illegally subdivided into a 2 bed 1 bath apt and a 1 bed 1 bath very small apt in the back. If I left this property alone and decided to live in smaller back apartment, the $1,400 would have easily covered all the bills.

Because it's my personal home, I am over-renovating it. Let's say I spend another $80,000. My all-in cost is $250,000. The ARV is $300,000. Getting a 75% LTV loan, that's $225,000 with a principal and interest payment of $1,064. I live in one of the bedrooms and rent out the other two for $700 each. That just about covers the mortgage payment, insurance, and property tax, and I have $25,000 into the property .

That's how I could have house hacked my home if I wanted to.  

Hello Eddie, I'm based out of Miami, FL.  Please check out my profile an if you think I can be of help to you in Miami-Dade county or south Broward, feel free to reach out.  Best of luck to you!

Hello Evelyn, maybe I can help you.  My partner is an agent.  From what you've written, I'm not completely sure what you're trying to accomplish but I think you need a hard money calculator which I can give you in excel/google sheets.  Check out my profile and company info for the contact number.  Give me a call and if I don't pick up or send you to voicemail with a text reply because I am on a phone call, leave me a voice message with your number and I will return your call.

Hello everyone, my name is Jeffrey Chan and I am a General Contractor, Construction Manager, and Owner's Representative serving the South Florida area.  When I lived in New York, I fixed and flipped a few houses in my spare time while working for a construction company.  Since moving to Miami, I purchased my own home from a wholesaler and the construction is almost done.  I also purchased a 1 bedroom condo which will be rented out soon.  I will be sharing with BP the progress on both those projects, along with the progress on the projects of my companies.  My goal is to collect more rental properties in the Miami area.  I'm also open to fix and flipping and wholesaling for extra cash to pay down any mortgages on rental properties as soon as possible.  I've been a BP lurker for many years but I feel I have a lot to add to the community and also a lot to learn so I will be much more active going forward. 

I'm actively looking for opportunities to bid on construction projects and can guarantee all my clients great responsiveness and a New York sense of urgency to get things done right and right away!  

Let me know if you have any questions in this forum or with a private message and I will get back to you.  As you can see from the exclamation points!   I am very pumped up to make 2020 the best year!  Ever!  

Investment Info:

Other investment in Miami.

Our sister company is TechCrete, Inc., and specializes in shell and superstructure construction (steel reinforcing, concrete, and masonry). Founded in 2019, we are currently constructing a 4-story school (KLA Academy) with a full basement located at 1109 SW 4th Avenue in Miami, FL.

What made you interested in investing in this type of deal?

We are builders! We love to build and take pride in quality work - as a general contractor and shell contractor, we are actively looking for more bidding opportunities.

How did you add value to the deal?

We are the shell (concrete superstructure) contractor.

What was the outcome?

This project is ongoing!