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All Forum Posts by: Saar Amit

Saar Amit has started 2 posts and replied 11 times.

Post: Guidance Needed on New Construction of Steelhomes.us Modular Homes in Fort Lauderdale

Saar AmitPosted
  • Property Manager
  • Fort Lauderdale, FL
  • Posts 12
  • Votes 3

Hey, thanks for your input! I appreciate the insight.

The main reason for looking into prefab or modular is to cut construction costs and speed up the process. Down here in South Florida, building a hurricane-proof home or townhouse the traditional way costs anywhere from $250-$450 per square foot, which makes it really tough to turn a profit when selling new construction.

CLT sounds like a great option in some places, but I’m not sure it’s the best fit for South Florida. With the humidity, flood risks, and hurricane impacts, it might not hold up as well as other materials. But I’d love to hear if anyone has actually used it successfully down here!

Thanks again for sharing—your hotel project sounds really interesting!

Post: Guidance Needed on New Construction of Steelhomes.us Modular Homes in Fort Lauderdale

Saar AmitPosted
  • Property Manager
  • Fort Lauderdale, FL
  • Posts 12
  • Votes 3

Hi everyone, I haven’t used Steel Homes yet, but I’m curious if anyone has any recent updates on the company and their projects. I’d love to hear from both satisfied and dissatisfied customers. Thanks!

Hi everyone, I ended up not using Steel Homes just yet but curious if anyone else heard anything about the company and their projects lately? would seriously be happy to speak with some happy and unhappy customers. Thanks

Post: Tax Implications of Holding Period for Property Flip in Florida

Saar AmitPosted
  • Property Manager
  • Fort Lauderdale, FL
  • Posts 12
  • Votes 3

Hi everyone,

Thank you for your insights. Here’s a summary based on the responses:

  1. Tax Rates and Holding Period:
    • For flips (properties bought, rehabbed, and sold quickly), profits are taxed as ordinary income, not capital gains.
    • The holding period is calculated from the purchase date to the sale date.
  2. 1031 Exchange:
    • 1031 exchanges apply only to properties held for investment, not quick flips.
    • If intending to use a 1031 exchange, I must reinvest the proceeds into a like-kind property within 180 days.
    • Holding a property for less than a year may disqualify it from 1031 eligibility due to lack of demonstrated investment intent.

Thanks again for all the helpful advice!

Best, Saar

Post: Tax Implications of Holding Period for Property Flip in Florida

Saar AmitPosted
  • Property Manager
  • Fort Lauderdale, FL
  • Posts 12
  • Votes 3

Hi everyone,

I have a few questions regarding the tax implications of flipping a property in Florida:

  1. 1. What are the differences in tax rates if I hold the property for less than one year versus more than one year? Is the holding period calculated from the purchase date to the sale date?
  2. 2. For a property flip, how is the duration of ownership calculated? Does it start from the purchase date to the sale date?
  3. 3. How does a 1031 exchange work in this scenario? If I flip a house and make a profit after 6 months, then buy a new property 3 months later, what taxes will I be obligated to pay?

Any insights or resources would be greatly appreciated!

Thanks in advance!

Post: Guidance Needed on New Construction of Steelhomes.us Modular Homes in Fort Lauderdale

Saar AmitPosted
  • Property Manager
  • Fort Lauderdale, FL
  • Posts 12
  • Votes 3

Have you got any link for Spain's Q homes? that sounds really interesting, perhaps could work as an ADU. In regards to SteelHomes, you will need your GC or you can use their GC but definitely, there are many jobs that have do without them.

In regards to financing, there is no issue getting financing for a new construction modular project- These are my steps: buying cash, getting a hard money loan for construction, building the homes, getting an appraisal (should be the same valuation as any other property) and finally taking a proper 30 years finance.

Post: Guidance Needed on New Construction of Steelhomes.us Modular Homes in Fort Lauderdale

Saar AmitPosted
  • Property Manager
  • Fort Lauderdale, FL
  • Posts 12
  • Votes 3

thank you all very much, guys. 

I did go to the manufacturer, I met the owner and the manager, and they all seem great. I have to admit that they aren't as responsive as I wish they were, but they are very busy. 

I am still trying to gather all pricing for the additional required work and hopefully, I will build a few homes with SteelHomes. I will keep you all posted. 

Post: STR property management companies

Saar AmitPosted
  • Property Manager
  • Fort Lauderdale, FL
  • Posts 12
  • Votes 3
Quote from @Ember Guss:

Any recommendations for a property management company for a Ft. Lauderdale/Parkland area? 


 Hi Ember, my company manages 5 stars Boutique vacation rentals in Fort Lauderdale. Feel free to send me a message for more information. You can find us in google under "FoxStays"

Post: Guidance Needed on New Construction of Steelhomes.us Modular Homes in Fort Lauderdale

Saar AmitPosted
  • Property Manager
  • Fort Lauderdale, FL
  • Posts 12
  • Votes 3
Quote from @Branden Rivero:
Quote from @Saar Amit:
Quote from @Branden Rivero:

I have not seen any yet in Fort Lauderdale, I have seen some in Miami. I saw one listed not that long ago and it took a while to sell


 Thank you so much for your reply Branden, any chance that you might have the address? 


Here you go Modular home search 

did a quick search on the mls 

please keep me updated on what you find out


I was able to find a few properties thanks to your MLS search.

I am still not comfortable with the selling price of these modular homes therefore I am trying to find more modular home sells in my area.

Thank you, Branden. 

Post: Guidance Needed on New Construction of Steelhomes.us Modular Homes in Fort Lauderdale

Saar AmitPosted
  • Property Manager
  • Fort Lauderdale, FL
  • Posts 12
  • Votes 3
Quote from @Joel Florek:

A modular house is built to the local building code. Therefore in an appraisal it is compared to the other homes build to that same code. Therefore you dont need to be concerned from that standpoint. 

I dont have experience in your area or the builder but I am building modular single family and multifamily in northern Indiana and southwest Michigan. Just finished my first home and our 8 unit project just started production in the factory this week. 

Thank you Joel, this information is precious to me. I am not sure if you are planning on selling your home/ units or if you are going to rent them but I am curious to know if you think that people are willing to pay the same purchase price for modular once completed and installed. 

Also, what is the name of the modular builder you are using?

Thanks

Post: Guidance Needed on New Construction of Steelhomes.us Modular Homes in Fort Lauderdale

Saar AmitPosted
  • Property Manager
  • Fort Lauderdale, FL
  • Posts 12
  • Votes 3
Quote from @Branden Rivero:

I have not seen any yet in Fort Lauderdale, I have seen some in Miami. I saw one listed not that long ago and it took a while to sell


 Thank you so much for your reply Branden, any chance that you might have the address?