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Hey John….does that person make 3% or 6%
[biggrin]Thanks John
Hi you guys things are looking good so far just nerve wrecking and very scared…..question….the person that sells the apartments before they are finished the preconstruction….does that person need to be a realtor or broker or can it just be anyone that has experience in this? I dont know if this is a clear question let me know thanks
Phil….I understand I didnt take it personal and I do appreciate your help…..your right its hard out there and I will try my best not to loose my shirt….I will keep you up to date on things Deal?
Thanks Rick and everyone in this forum for all your input its been great help I will get back to you guys next week and fill you in on where I am as far as the project.
Thanks Rick……alot[buz2]
Hi…Thanks for all your help…Resiwealth let me start over for you….and remember I am new and I did write on this forum thinking I could get some feedback and some helpful advice and my questions will at times be very basic to some that have been through it before….
Rick is very right…I am in the U.S. I do live in Miami, Florida…and I love all your inputs please….
I have not bought yet…I am looking into buying some property that will be knocked down and the land will be used to build and sell 2/2 condo’s.
The 4 building are being sold for 3.7….estimated cost for building so far from the bids has been 6.3 and selling or the new units will be about 460k….about 30-40 units in all. Now here are some of my questions….If I go in this deal with investors How much profit is a fair and usual profit that an investor can make lets say they invest in incraments of 100,000?
what do the developers or development managment make in profit? and what does the architect and contractors make in profit……I guess how does the profit from selling the units get split up between all the people involved?
Now I am asking before making any decisions? and dont forget Miami prices are out of control right now………I hope I can ask these questions in a safe space here on this forum??? thanks againWhat is a good profit for investors as far as in percent per year…if the project takes 3 years to finish and they invested lets say $100,000.
I did my numbers before buying and it was right and very worth it…..but I wanted to double check and make sure I was on target…..Because I am new…I am learning and I just want someone to point me in the right direction with a good profit percent and compare that to what I had worked out ……
Thanks Alistair…..
Great….I will do it….thanks for the advice…anything you think about at any time pls feel free to share…..me
Alistair…Thank you for your help…..I know its crazy for me to try this but I have to start somewhere and I know I will have many mistakes that will cost us because I am not alone…But I really want to learn!!!! Do you have any suggestions on books or workshops I can do to learn……or any great advice on how to dodge as many mistakes as possible? thanks crazy
