All Forum Posts by: Jorge Siverio

Hey Bhavya,

I'm assuming in your example you are factoring in buying the lot cash and using that equity as part of your down payment to finance the construction. 

From what I've seen, LT lenders will usually cash out refinance 70-80% of the value ... depending on which you decide to use. You do have to factor in closing costs for the new LT refinance. 

Remember to also factor in carrying costs (interest, closing, orignation points) when calculating cash needed for the construction piece, whether you are using hard money or a 2nd home loan. 

Wow Trevor. You sure got an incredible price. My total cost right now (without lending costs) is sitting at $298,500 for construction and lot. The numbers still make sense, but you must be really happy! 

Wanted to jump in and mention that I am spinning up a deal in Cape Coral right now with Zach and team after much research on here and many conversations with them. So far they have been extremely helpful and have demonstrated that they are running a good operation. Gave me lots of appraisals and data to play around with. Looking forward to securing a lot soon and moving to the permitting phase. 

Hey, @Ashanti Kouna Welcome to the party. As a rookie myself (also in Florida - Miami), I have found the following books helpful so far (the BRRRR one by David, How to Invest in Real Estate, and Rental Property Investing).

What about the state specific lease agreements available here on BP?

You could try a skip trace. 

Hey Tony. I'm local to the Miami area. Count me in ! 

Same request as Mo !

I was wondering how a lender calculates the monthly tax escrow payment on a new construction. Is it based off of the future value appraisal or something else? 

I'm attaching the contract screenshots below for reference.