All Forum Posts by: Tammy Pimienta

Hello

I am in the Tampa Bay Area and trying to find a knowledgeable and dependable agent to work with to provide me with land comps for a property that I own. Any feedback or information would be great.

thanks,

Tammy Pimienta

Thank you for your input. That makes sense to me and gives me more clarity on my role. Who is the architect you have?

I have 3 lots and looking to build multi-family or single family homes on them. Can someone point me in the proper direction to how I should vet potential contractors or licensed individuals.

I found a guy and he has proposed to do the marketing for the site plans to be built on my lot. However, the contract details advise that I have to come up with a down payment of $5k to market the property and sell the lot with the construction development plans. I found this guy through another guy who does work in the Bay Area but I haven’t seen any of their work. They have implied that I could stand to make $60k per lot and up to $100k total for the entire project once’s the lot is sold with the plans and they find a buyer. I guess I would be the owner/developer? 

Any recommendations would help and/or direction. They are eager to work with me but seems too hasty because this is all new to me but I am learning. I have too much to lose to not get this right & it’s critical that my interests are protected. I don’t want to rush into signing a contract that I really don’t fully understand. They are claiming to have it sold by the weekend. I am not sure if I can trust this deal. I have been doing my research and things aren’t checking out in terms of business credentials and work performed. I am literally just going off of what they tell me they can do and for me I am not comfortable with that. I just want to do the right think, the right way while protecting my interests and avoiding scammers.

If someone in the Tampa Bay Area can assist me with finding a developer that is licensed, insured, & bonded that would be great. I need to see work and I think I need to get an attorney on my team to look over contracts and my investments going forward as this will give me the confidence if something goes awry, the legal counsel can take care of it. I just have so many questions about the two individuals I am working with I just don’t know what to believe or what I am looking for in a team.

thank you,

Hello again BP Community!

I need a little assistance or advice on this construction proposal provided to me by a company in Florida for a new construction multi-family build I would like to start on my own land and personal property.

The lot has been split into 3 parcels. This is enough for at least 4-6 doors. So far I haven’t settled in my mind on what would be best. However, my intent would be to eventually have cash flow and long term rentals combined with short term rentals to maximize. 

So far, up speaking with the developer they are telling me that my costs may be around the 2 million dollar range which is unheard of (for me) and the area in which I want to build in. I am not sure if this sounds right or if I should get additional bids/proposals because the price range seems a bit astronomical and out of reach for me.

I have reviewed the document over and over but somehow I am not quite sure now if this is something I want to delve in or approve to move forward. There are items in the document that they have me being responsible for aside from the 2million price point they gave me w/o seeing the actual plans. 

I don’t plan on moving on this because I for one don’t have all the numbers. Secondly, I am not sure if I want to go with the townhomes instead of duplexes to save on costs. I feel that I am missing something in the process although I am in no rush to make my vision come to life.

Please review the documents they provided me and let me know if the is sound’s legitimate. This is a pre-construction phase of things.

Respectfully,

Tammy

Hi Richard, welcome here. I am a new investor as well and trying to build my own network of people down here in Florida. It has been a task but in the end I am sure that it will be all worth it. Let me know if you find any reputable and beginner friendly investors on here. Have a nice day 

 ok thank you