All Forum Posts by: Raj Konda

Hi Jordan, Did you go thru with Subject To?  Curious as I m evaluating an opportunity but it is a new area for me, so checking

Thanks

raj

 much appreciated Donald, will let you know of any assistance. thanks

i just posted a similar issue with the builder in cape coral. I did not go through rent 2 retirement though. Any solutions they offered that you can share here?

I entered into a contract with a reputable builder ( at least I thought at first) in SW Florida. This is my first experience and has been a stressful one to tell the least. Sharing my experience below -

Entered into a contract almost 18 months ago, after buying a piece of land. First few months, they blamed the city’s back logs for issuing permits. Build was supposed to finish in 4-6 months, it’s been 12 months since the permits and they are requesting another 3 months extension. Builder keeps on blaming on suppliers etc, every time there is a new story and hard to updates on delays. Right now, I m not sure if they can finish in 3 months and it might be dragged for longer time.

I really hope my case is an anomaly and hoping, builder issues, are not that common. If you have gone thru a similar experience in the past, please share any tricks or things I should be aware of, especially the solvency of this builder.

Thanks for all the suggestions in advance.

@Bonnie Low  I check the box where tenant pays for it

Agreed, tough to find the cash flow in CA. Greater chances for out of state but having said that it is harder to beat appreciation. Get an Airbnb in coarse gold, Tahoe, big bear etc and cost seg for active loss. 

Hi Jared, 

I m in the same boat - have a 4bed/2bath SFR in Cincy, North Hill with close to many hospitals. Looking for someone to take over the STR I have or go with MTR / Corporate housing. What did you end up doing? any suggestions?

Thanks

Quote from @Erik Estrada:

Quote from @Raj Konda:

I m working on my first construction project. Current lender ( referred by builder) gave $12K cost in there disclosure estimates. I understand some costs - I can shop around but section A & B is almost $9K. This seems very high to me and want to check with the group on thoughts.

If you think of any efficient lender for const. loan in FL - please suggest

~$250 loan amount, single family, investment home

 This looks fine to me. There are a few junk fees but it's not going to be a deal breaker to go switch and start the process all over again with a new lender. Also this looks like an LE which they usually disclose higher fees. 

Just make sure they can close this. 

Some are really junk fees but the lender is hellbent on not removing them, unlike in the past they seem to be more reasonable. This lender took already there sweet time, more than 2 months to get to this stage and hate to start with a new one to reduce a nominal fee or 2. I had better experience with other lenders in the past compared to this one, for sure. 

Thanks for your reply.