Real estate info/advice needed......

[shake d livin wake d dead]

I am currently in possession of 1 lot land in the Mayaro.However, I would like to know if building apartments would be a good idea for this area.It's located 2 mins away from the beach and about 5-7mins from the town. I am contemplating catering for those offshore workers,but I'm not sure.Is this good for that area or do I sell the land and purchase another lot in a more developed community with the same ideas in mind? Also,yes the land is private,with all necessary documents.

thanks for the info...please no negative comments.

[pete]

It could be a good idea. I know the company I used to work for recently started putting people up down in Mayaro to reduce the long commute most of the workers needed to make from Chaguanas etc. They ended up having to stay at the resorts and the prices there aren't really that great. You looking at monthly rentals or short stays as well?

My case for example, we only had to go down there about 4 days out of the month so a monthly rental wouldn't make sense but I know there might be workers who are from far away that might prefer to rent for the month.

[shake d livin wake d dead]

looking at monthly rentals..all amenities,fully furnished..

[brams112]

You might want to take a drive around to see how much places are already for rent,or you could make contact with someone in the industry to see if there is a demand.There are a few places for sale that is already built also,you may want to look into that also,but there is the holiday crowd if you want to go that route,you can check the classifieds or power seller roro I believe have a few down there for sale already built apartments for sale that is.

[shake d livin wake d dead]

hmmm^ I was thinking about having some working in that region to find out for me as well.The majority of houses I know are more of the wknd getaways.but thanks again.

[src1983]

Great idea. It will surely do well

But be prepared for a lot of maintenance nothing last there.

[devrat]

hmmm^ I was thinking about having some working in that region to find out for me as well.The majority of houses I know are more of the wknd getaways.but thanks again.

Shakes send me a pm with your contact info, I have a friend in the business and she has a lot of listings in Mayaro for company rentals. She might be able to provide further insight.

[Numb3r4]

If you are considering the offshore workers then you should look into getting info. from the companies that operate in the area. Specifically;

Atlantic LNG.
Nico/Bayfield Energy Services.

This might be a good idea however you mentioned that you are targeting the workers. Who in particular?

The rig crews that work there are usually foreign that is they come with the rigs that work offshore so they may be on a 28 day on 28 day off cycle...so that is some potential there; that is if they don't fly out of the country but still a potential.

Also you could consider the many plant workers that Atlantic has running their plants. You may also want to consider making it family friendly, not just bachelor pads. Some of your tenants may like to move their entire family down there if only for the weekends, of maybe accommodate a lady friend or two or wifey....you know.

Whatever you decide to do I wish you all the best hope it turns out well. In these hard times it helps to have something to fall back on. Just don't go and waste all the money on woman and rum.

[pete]

^^^ ALNG is on the opposite side of the island eh!

Not to be too negative but a lot of the workers in Mayaro are from Mayaro. The bigger companies like NMWG and BPTT have transportation organised for people outside of the area or even put up their employees in guest houses / the staff complex already.

I do know there may be some guys who would prefer to rent down on that side instead of meeting up the buses along the main road early in the morning but it's hard to say how many. There are some service companies that aren't based down there but do spend a few days there so that may be an option as well as I said before.

[Mr. Red Sleeper]

It could be a good idea. I know the company I used to work for recently started putting people [yo-yo] up down [/yo-yo] in Mayaro to reduce the long commute most of the workers needed to make from Chaguanas etc. They ended up having to stay at the resorts and the prices there aren't really that great. You looking at monthly rentals or short stays as well?

My case for example, we only had to go down there about 4 days out of the month so a monthly rental wouldn't make sense but I know there might be workers who are from far away that might prefer to rent for the month.

Opie,

What street is this on?

[shake d livin wake d dead]

It could be a good idea. I know the company I used to work for recently started putting people [yo-yo] up down [/yo-yo] in Mayaro to reduce the long commute most of the workers needed to make from Chaguanas etc. They ended up having to stay at the resorts and the prices there aren't really that great. You looking at monthly rentals or short stays as well?

My case for example, we only had to go down there about 4 days out of the month so a monthly rental wouldn't make sense but I know there might be workers who are from far away that might prefer to rent for the month.

Opie,

What street is this on?

Rabita avenue to be exact.

not targeting any1 group in particular....open to everyone.

@maintenance cost: would be limiting the amount of steel I use for the house...i know sea blast is a beyotch.

[shake d livin wake d dead]

If you are considering the offshore workers then you should look into getting info. from the companies that operate in the area. Specifically;

Atlantic LNG.
Nico/Bayfield Energy Services.

This might be a good idea however you mentioned that you are targeting the workers. Who in particular?

The rig crews that work there are usually foreign that is they come with the rigs that work offshore so they may be on a 28 day on 28 day off cycle...so that is some potential there; that is if they don't fly out of the country but still a potential.

Also you could consider the many plant workers that Atlantic has running their plants. You may also want to consider making it family friendly, not just bachelor pads. Some of your tenants may like to move their entire family down there if only for the weekends, of maybe accommodate a lady friend or two or wifey....you know.

Whatever you decide to do I wish you all the best hope it turns out well. In these hard times it helps to have something to fall back on. Just don't go and waste all the money on woman and rum.

I'm considering one 2 bedroom apt upstairs and 2,1 bedroom apts downstairs...all furnished

[Mr. Red Sleeper]

Rabita ave has some ok houses already on it and its in a good "rental" area.
IMO build something in a very cost effective manner, while maintaining a tasteful finish and you cant go wrong .
EVen if you dont attract the pricing you dream of right away, this investment will pay off in the long run.
Of course, when you ready for house plans & construction call me..


I mean, uh,...I know someone who's quite affordable.

[~*Pãñdorą*~]

Pm janfar...

He would be able to give you the best advice for that area.

[Mr. Red Sleeper]

I wont ask.....

[RedTiger]

The idea is good but the construction & specifically maintenance costs will be high. Look at the houses in this salty sea blast area. You have to have deep pockets for this investment. Sell land and invest proceeds in a more developed and easily accessible property for rental purposes or keep as a nest egg in UTC.

[Mr. Red Sleeper]

^^ You know there are ways to do it right in an effort to hugely minimize maint.costs?

[shake d livin wake d dead]

^^ You know there are ways to do it right in an effort to hugely minimize maint.costs?

yes there,it mostly comes een when building....use less steel.

I had an avg of 600k to work it...think that's enough?

[White CZ4A]

If I were you I'd build a house instead of apartments and target the oil and gas companies as opposed to the individual workers for long term rentals. Short term rentals are a pain and you might spend most of your money in repairs.
Right now I am renting my house in Mayaro to BP..long term rental.

Main reason I suggested a house is that so when you're comfortable financially you'd have a nice vacation home.

As for maintenance, I'm about 300m from the sea, but I still get sea blast effects. It's hard to avoid but it's not as bad as I thought it would be.

[shake d livin wake d dead]

2 levels or 1??^ avg cost at the time?

[Mr. Red Sleeper]

If I were you I'd build a house instead of apartments and target the oil and gas companies as opposed to the individual workers for long term rentals. Short term rentals are a pain and you might spend most of your money in repairs.
Right now I am renting my house in Mayaro to BP..long term rental.

Main reason I suggested a house is that so when you're comfortable financially you'd have a nice vacation home.

As for maintenance, I'm about 300m from the sea, but I still get sea blast effects. It's hard to avoid but it's not as bad as I thought it would be.

It also is not hard to design a house that convertsbetween a whole house or separate apts, dependant on the clientele's needs.

I hactually have one such house for sale right now in Frontin rd that was built like that.

7 rooms or 1 three bedroom with 2 2 br units downstairs.

have a look..

viewtopic.php?f=11&t=501542&hilit=mayaro

[shake d livin wake d dead]

another question fellas...avg cost of a house plan these days...2 levels.

[Mr. Red Sleeper]

$6/ sq.ft.is fair but is also dependent on what services are required.

see below:

yeah but is not a big structure - already have my ideas drafted out - its just to get it professionally done.....

remember that for approval your Building plans must include:

* roofing details drawings/plan
* foundation and pillar drawings
* the building/structure detail and roadway orientation plan

you should budget $5k - $7k approved. Also you should try to get it done electronically/AutoCAD.

Also, when the draftsman quotes you his price ensure it is for approval/ T&C fees, local corp fees and sadly but a reality/possibility "grease-hand / pull strings / fast track fees"

My advise to you is do not engage in any bribery and trust me it will come in many forms from the concrete salesman, the local corp man, transportation man, heck even your very own contractor may test you.

just play like your "chupid" and eh understand what they asking yuh. From the moment you start down that road it is a never ending one.

Keep your integrity intact and you will be fine.

good luck and keep us updated

All of that is well and good.
the first thing the intending house builder needs to do, is decide what he wants as far as services go, whether you want:i.e.

Architectural services -

Meeting the clients and discussing their needs/wants for their new home/building
Visiting the site with client to get an idea of the initial design concept for utilizing every available feature of the surrounding landscape - ( View, wind,etc.)
Obtaining from T&C an Outline Approval which will state what can / cant be built on the parcel of land, which will outline the setbacks, heights of buildings, purpose of building , etc.
Designing a building that fits the needs/requirements of the client & T&C
preparation of a schematic design for the client to have an idea of what they're getting
Final designs based on agreed schematic drawings
PREPARATION OF ALL DRAWINGS (6 copies of each)MANDATORY FOR SEEKING APPROVALS as follows.

Location plan
Site plan
Foundation Plans
Floor plan(s)
Elevations
Sections
details - roof joint/wall corner details/etc. etc.(abt 3 or 4 different pages dependent on design)
Roof framing plan
Isometric Plumbing Drawings & related Approvals
Electrical drawings & related approvals

-All new works are to be coloured red...!= time consuming for 4 copies of each.
-submit all required drawings for approvals

-Obtaining and submitting all legal documents for various approvals
-preparing a scope of works for tender process to contractors
-preparing legal tender/contractual documents and inviting contractors to tender
-acquiring and assessing all tender packages
-Discussing and agreeing with clients on nomination of contractor
- preparing documentation for same

N.B. While all of this is happening, it is the responsibility of the architect to be constantly checking T&C to see if approvals are ready and if any additional info is needed. They sometimes refuse your application for a missing piece of info as small as a door missing a size on the dwg! At which time you have to do over everything because they've already stamped their refusal stamp on the drawings.

Once youve received the approved drawings, you can start construction. Although, in most cases, some who have made sure that everything is correct from the start to avoid delays further down the road, can therefore start construction/ground works, once a contractor is nominated, while waiting on approvals.

- Constant supervision throughout the duration of the project from the start to the end.
- making sure that both the client and contractor sticks to their responsibilities as stated in the contract agreement.
- final Payments to all involved parties to mark the end of architectural services.
Clearly 7k cannot pay for the above services.
Or let me be a lil more clear-er...

I will not be undertaking the above for 7k..
That may just cover phone calls, gas, and general expenses to get the above done. We eh talk WORK yet!

Drafting Services.
-Receiving a sketch/idea from client
-Preparing the necessary drawings (hopefully in a professional manner to avoid time wasting later on.
-Submitting for approvals.
Get Paid 3 or 4 or 5k....Whatever they woke up feeling to charge- i guess.


/rant

[shake d livin wake d dead]

nice read there...would post pics of the land soon.

[White CZ4A]

2 levels or 1??^ avg cost at the time?

one level, 4 bedrooms all en suite
avg cost of the house or the rental?

[shake d livin wake d dead]

both,if you don't mind sharing^

[kevinknr]

Great info here.

I'm looking into doing something similar. Building a small 2 or 3 bedroom house and renting it out. Already have the land.

Another thing to consider is insurance for the property. In case something goes wrong. Insurance might be costly though, as your property will be exposed to corrosive sea spray.

Good luck OP.

[shake d livin wake d dead]

im going through ttmf,so i would arrange for insurance.thanks for views so far fellas

[Numb3r4]

Yeah Atlantic's energy and chemical plants are located on the other side of the island but their drilling rigs and production facilities are located on the east coast. We do not have natural gas on land or on the West coast, the majority of our gas finds come from the North and East Coast. Beside Petrotrin operates the West Coast and land anyway.

Also not always do folks stay in the complexes. There are instances where I know of Atlantic renting private houses to give to special folks they bring in on a temporary basis. I know of such instances in Gulf View La Romaine, they rent houses there for their people. Similarly I was suggesting that for this particular person. He could build a Guest house that serves two purposes a vacation home or specialty home services for the companies.

Ideally the best thing is to build a simple family oriented flat house. Flat houses are traditionally easy to build and maintain also they are better when it comes to landscaping and exterior trim two things that could draw customers to your property.

If you are going with 2 levels then be wary of cost. Also be prepared to wait for about 2 years as the Ministry processes your documents, drawings and permits to build. Seriously not a joke I know of three instances of persons telling me that it took them that long to get around to doing things. Now if you use architectural services they usually help you through this process, but as before beware of the cost of such a service. A draughtsman however will be significantly less however he is only responsible for the drawings done he will not undertake any other responsibility. Price may vary from one to the other, may be good to "shop" for a good one. If using a draughtsman then make sure the drawings are done electronically AutoCAD or AutoCAD Architecture.

Given the local climate please do not succumb to the temptation of giving a bribe or be convinced of administering one....

If you have difficulty deciding on a plan then get a book or magazine of Floridian Home planes RIK usually has these. This way you can educate yourself and be able to offer better inputs and not be subject to the opinions of those you hire (as you know everybody you hire these days has an opinion and think they could do better).

[shake d livin wake d dead]

thanks yo,already have my plan in my head.meeting with a contractor soon.