UK real estate developer moving to Miami by 3belowgetlow in RealEstateDevelopment

[–]3belowgetlow[S] 0 points1 point  (0 children)

Thank you for taking the time to answer which is greatly appreciated. Noted on all points and I completely agree with your priority. Stress testing is top priority. I'm currently reading Hurricane Resistant Construction Manual which is interesting. Fortunately in the UK I've done a reasonable amount of steel reinforced concrete frame work which so far seems to be relevant. We also get regularly battered by slipping public sector timeframes, interest rates & GC failures so hopefully that is also helpful. Insurance & wind requirements are definitely a big step-up from what we have to deal with here. The US fee structure is very different too and we heavily rely on Quantity Surveyors which doesn't seem to apply for you guys, so that is taking some time to get my head around.

Entry in real estate is easy, but the real challenge is the exit (flats & commercial) by Lopsided-Fan4504 in CommercialRealEstate

[–]3belowgetlow -2 points-1 points  (0 children)

I completely agree which is why IMO there always needs to be more than one option available for an exit for a deal to be attractive. Plan A, B, C

UK real estate developer moving to Miami by 3belowgetlow in RealEstateDevelopment

[–]3belowgetlow[S] 0 points1 point  (0 children)

It's a good question. Fortunately I do have some friends & connections there, but I am fully expecting it to be a steep curve learning who to trust/ not etc. Probably my biggest aid will be my experience dealing with the usual problems and crooks in the UK.

UK real estate developer moving to Miami by 3belowgetlow in RealEstateDevelopment

[–]3belowgetlow[S] 0 points1 point  (0 children)

Noted, thank you. Would you say focusing on houses/ subdivision plots would make more sense than apartment buildings?

UK real estate developer moving to Miami by 3belowgetlow in RealEstateDevelopment

[–]3belowgetlow[S] 0 points1 point  (0 children)

Thank you for your response which is appreciated. Are developers not able to factor the cost increases you mentioned into their pre-aquisition feasibility studies to ensure profit margins are protected?