All Forum Posts by: Shital Thakkar

@Zach Lemaster This is old post, like to know how your construction project went. Please share your experiences here.

@Greg Dickerson Thank you Greg for your insight. 

We have few lands sorted out. Need to decide best one based on other due diligence.

Yes, we need site work, permits, utilities etc.

We are planning Class B construction.

I am planning similar multifamily / apartment construction in Dallas Metroplex.

Here is my planning, let me know your suggestions and recommendations...

• Land : 2-3 acres
• Land Price: 200 - 300K
• Units: 30
• Construction: Around $80/SF

Please message me if you built similar project in past and like to discuss.

Thank you

Hi,

I am planning multifamily / apartment construction in Dallas Metroplex.

Here is my planning, let me know your suggestions and recommendations...

• Land : 2-3 acres
• Land Price: 200 - 300K
• Units: 30
• Construction: Around $80/SF

Please message me if you build similar project in past and like to discuss.

Thank you

@George Yu

Thank you very much for sharing your story and actively giving all answers...

Few Questions From my side...

1. 48.5 per door is very low even below cost, how were you able to get this? Did contractor build at cost and you gave him additional incentive money? 

2. Did you use traditional financing? What were the terms?

3. What was land price and you paid all cash for land.

4. Your property is within Atlanta metro? 

5. What is sweet spot for first time construction guy, 32 unit or higher number of units can be possible following your plan.

6. Land you purchased was already multifamily zoned or you gone through zoning change?

Thanks,

Shital Thakkar

@Ankur Agarwal, Wylie is good place for investment if you can get 0.8%. 

It is hard to make 0.8% in FW also. 

There is good rental demand in Heath/Royse City if you like to go further east.

@Erwin Groenendijk,

What are Pros and Cons for US investors to invest in Spain?

Generally when there is discussion about investing outside country, major benefit can be quick appreciation.

Otherwise we loose benefits of Tax savings, Leverage, ease of management when we look outside.

Thanks,

Shital Thakkar

@Jim Cummings, Thank for the numbers. There is discussion about Property tax control in Texas also, that will help getting better cash flow.

@Account Closed, Which tertiary market you are targeting? you develop new homes or buying existing homes? Pulling $750/month after PITI is excellent!

@Jim Cummings

@Noel R., Really great question.

@John Morgan, you are right, it is not possible to find this numbers in DFW market.

@Lane Kawaoka, Good list of citie (Birmingham, Atlanta, Indianapolis, Kansas City, Memphis, Little Rock, Jacksonville, Ohio) My preference is Atlanta based on size of the city & growth prospect. I always consider growing area to cover my self in recession.

@Jeff Bateman, I was not aware of possibility of 1% rule in Houston. you are finding deals from MLS or wholesalers?

@Yu Chen, You are right. Texas is landlord friendly state and Property taxes are high. Owning property in Texas is excellent investment till 2016/17, lately price skyrocket in major metros. based on future growth prospect I still like to invest in Texas. Finding good deal is really really tough. Here is growth picture of Texas...

(https://www.nbcdfw.com/news/lo...)

Hi @Tommy Brownell,

Welcome to DFW area. 

I live in McKinney and investing in DFW since last 10 years. Ping me when you have a time to discuss.

We can meet sometime for coffee.