And then reality kicks in - the construction was painful - finding decent contractors, inflation, scope creep - all the usual **** made worse by the fact that nothing is particularly easy in costa rica besides ordering cocktails.

Target ReturnsWhile target returns are crucial, these should be discussed only with investors—not brokers or others helping you find deals.Sample Investment CriteriaHere’s an example of well-defined CCC:Location: Primary and secondary cities in the Southeast with population growth.Type & Class: Class C garden-style or walk-up workforce housing with repositioning opportunities.Age: 1980s construction or newer (case-by-case for older).Price: $5M–$12M, requiring $1.5M–$3M in funds.Size: 100+ units.Cap Rates: Market rates.Roof Type: Pitched roofs preferred.Value-Add: Opportunities for improvements or better management.Why This MattersBy creating crystal clear criteria, you:Avoid wasting time on deals that don’t align with your goals.Build trust with brokers and partners by demonstrating a focused investment strategy.Increase your chances of finding deals that meet your financial and operational objectives.I'll be posting each chapter as I go through them so you can follow along from my notes and we can discuss different strategies.

We're working with a new construction builder who has an in-house lender (Austin, Texas area).

Is this home in the beach a new construction or an existing home?  

It's another form of DIY/ sweat equity, just as folks learn basic construction/ home repair skills to save thousands.

Especially now, I am seeing a lot of people who bought during or right after the COVID pandemic and are in situations where they simply cannot sell their homes for any profit (many of them bought as new construction).

This may be to deliberately prevent discovery of other electrical issues or prevent fire/injury.You will need some form of hard money or construction financing to purchase the property as is, and you will need to get the property occupant-ready to pass an appraisal before permanent financing is on the table.

Also, it often helps to connect with a local agent/do extensive due diligence on renovated/new construction properties to see what the property may sell for or appraise for (if doing BRRRR method) as that can impact the price you should pay.

Blacktip Construction Group.

It looks like you can use a 203k loan for new construction to reconstruct on an existing foundation.