All Forum Posts by: Robert Damato

Oops, sorry Barry, I forgot to tag you. 

Again I appreciate the help!

@Barry Ruby

Hey Barry,

Appreciate the help. 

I see you are from Boulder, I've always wanted to visit, it looks like an incredibly beautiful city right next to the mountains. 

Anyways, I got in contact with a local developer that is sending me a couple builders that would fit this size project. Through them I plan to find an architect

An input sheet would be fantastic.

Thank you!

@Marcus Auerbach 

Fantastic. 

Thanks for pointing me in the right direction. 

Cheers

@Marcus Auerbach

Hey Marcus, 

Thanks for the input. 

I would agree, there is a lot of competition with the thousands of units they built on water street in the last 5 years, I think a more intimate product like a 3bd 2bth townhome with parking would be more attractive over the course of time as well as hold long term tenants.

Do you have any input on cap rates in that water street apartment area or know any good architects?

Thanks

Hello! 

I am looking for some information on how to estimate what construction costs will be for a development of an 8 or 10 unit townhome style property.

I have an opportunity to purchase some land on the east side from a relative in order to build. It is 3 parcels right in a row with RT4 zoning for a total of 10800 sqft. This gives me 7560 Sqft of buildable land from what I understand (70%).

After talking to alderman's and some other developers it sounds like I can fit a 2 story 8 unit on the property, the area is class A/B

I understand cap rates and how the value is calculated, I have an idea of soft costs, but I am lost when it comes to estimated what the cost of the build will be. From there I can obviously back out equity and financing fees and figure out what I can pay for the land... that's my goal at the moment.

Looking for some insight on how to better estimate construction costs as well as an architect that would fit this project size and maybe any suggested financing structure aside from bank construction loans, which are extremely hard to come by these days. 

I appreciate your time in advance.

Cheers!!

Fast forward to today I am doing that exact same thing, 

I rent it to someone that airbnb's it. working out great!

If you want to wear a mask by all means, but don’t try and make your tenant wear a mask in their own home so you can go do repairs because you’re the one that is concerned. You will be fine champ! I promise! 

@Bruce Lynn

Bruce, I appreciate the response Sir, all good and useful things. 

In the area where I want to build there is lots of land for sale but not a lot of inventory for completed homes.

There is lots of building going around in the area, it is the start of a hot spot. 

I know a good local real estate attorney from multiple referrals and am researching builders and their reputations. 

Any tips on getting financing for international builds from banks in the US?  

Ladies, Gentleman..

I am looking into building a vacation rental in Costa Rica, (4 bedroom house with detached ADU) anyone have experience in international new construction?

I am in a unique position with my minutes for money job to be able to be gone during the winter months, therefore be on site.

5 do’s 5 don’ts... or just advice... shoot!

Much appreciated!