All Forum Posts by: Junior Pando

Hello All Investors. I have decided to start investing in Miami, FL and was wondering if anyone can recommend me a reputable General Contractor that they or someone they know have used before. Thank you all in advance for any recommendations!!

I'm sorry to hear that Jorge. Thank you for your input, if you can't make it, there will be another open house Sunday. @Jorge Ruiz

Thank you Glenn it would be great if you can make it and we can talk more in person. If not; I really appreciate your comments and hope you can at least make it sometime and see it in person. @Glenn Tracy

Thank you @Glenn Tracy your comment.

Purchase price: $620,000

Rehab: $87,000

Miscellaneous: $5,000

ARV: $886,000

Outside Commission: 3.5%- $31,010

Net Resale: $852,490

Less total Costs: $713,500

Gross Profit: $ 138,990 

ROI: 19.5%

It took a couple more weeks to finish the project than expected due to Contractor issues.

Financing is not a problem because I have 2 investors that fund the Purchase Price while I fund the rehab cost plus I manage the projects and we split the profits. 

Thank you everyone for your comments and inputs. 

@Bill Hinshaw I had the plumbing replaced all through out, updated the electrical Panel and also had it rewired  through out as well. Rehab cost was $87k.

Biggest Project I have Invested in so far. Hard work pays off! Hope anyone here that might be around the area can make it to the open house. 

BEFORE

AFTER

Thank you everyone for your comments.

BEFORE

AFTER

Thank you I had an open House this past Sunday. 

Thank you very much everyone. Hope to see those around the area at the open house :)