All Forum Posts by: Ricardo Taboada

Halloa to you and thanks for reading! I own a small family business. We develop real estate in South Florida. We contract with an excellent local builder. So far we've done single-family homes for sale. To date I have personally financed each property as a personal construction-to-permanent mortgage. That means I take out the loan myself based on my income (I've got a 9 to 5) and when the property sells I pay back the loan. We now have enough capital to be able to contribute up to 20% of the construction costs and would like to acquire financing through our entity rather than as I have been.

I wonder:
1. What financing is available to my company (S Corp in Florida) to cover the construction costs for single-family homes that will then be sold?
2. Relatedly, what is available to cover construction costs for multi-family properties that we intend to rent rather than sell? We are considering building multi-family structures, holding them, and renting them out.

Thanks again!

@Jesse Holshouser I echo Steven's congratulations: you are in a great position which we all aspire to attain.

In my opinion, psychology should play no role in these decisions. If you can get a better return in the markets, why not? Of course, personal preference does have a role to play, though, and it's perfectly respectable and reasonable to follow one's heart rather than mind.

In any event, I have yet to meet someone who is extremely wealthy and not heavily leveraged.

Thank you! Very helpful insights.

Hello all. Thank you in advance for your time and shared knowledge.

I am looking to sell a single-family new construction (which I developed) in Lehigh Acres, FL. This is around Cape Coral/Fort Myers. My strategy is to forgo a listing agent and use a flat-fee MLS listing service. I am a lawyer and developer and am intimately familiar with property law and real estate; however I have never sold realty without a listing agent.

I would appreciate any advice or thoughts you may have about this plan. Some of my specific concerns are:

1. I am considering using beycome.com as the flat-fee service. Any idea on how good their service is? Would you recommend an alternative service?

2. My thought is to offer a 3% buyer's agent commission. Thoughts on this amount? What is typical for the area? I think 3% is reasonable and many of my prior transactions have offered 2.5% to the buyer's agent.

3. If you have an argument that I should reconsider my strategy and instead retain a listing agent, I would like to hear it. 

4. Any other germane thoughts would be appreciated.

Thank you!