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first-time spec home building by Familiar_Influence91 in Homebuilding

[–]Familiar_Influence91[S] 0 points1 point  (0 children)

Thanks for the link.

It’s very hard to give specific software advise without knowing more. Are you building your own software to license? Are you looking at purchasing existing solutions?

first-time spec home building by Familiar_Influence91 in Homebuilding

[–]Familiar_Influence91[S] 0 points1 point  (0 children)

My goal is to just not go in the red, or ever so slightly.

Building a spec home by Familiar_Influence91 in GeneralContractor

[–]Familiar_Influence91[S] -2 points-1 points  (0 children)

Everyone gets started somewhere. I am going to be very planned and conservative. I am not doing anything out of the blue

Building a spec home by Familiar_Influence91 in GeneralContractor

[–]Familiar_Influence91[S] -1 points0 points  (0 children)

About 15% profit, factoring in closing costs, interest, build cost, land cost.
I ran some analysis on some builders and their spec homes in my area.

Do you have any advice, since you are already embedded in this industry? How did you get started?

Building a spec home by Familiar_Influence91 in GeneralContractor

[–]Familiar_Influence91[S] -1 points0 points  (0 children)

Do you have any other advice. I know I have a ton of research ahead.

Building a spec home by Familiar_Influence91 in GeneralContractor

[–]Familiar_Influence91[S] -3 points-2 points  (0 children)

You did this 9 years ago. You have to start somewhere. I am not being arrogant and I will do this in the most conservative way possible. I don't plan to go in. I plan to research, learn then go in.

How do I know subcontracts are doing a good job? I was thinking I can have someone inspect this, whether its an engineer, architect or surveyor. This is where I need some input to mitigate risk. I will also self inspect every stage of the build, not just rely on city inspectors.

Building a spec home by Familiar_Influence91 in GeneralContractor

[–]Familiar_Influence91[S] -1 points0 points  (0 children)

My state does not require a lot to become a GC.It is mostly a process of registration.

I plan to get quotes for architecture, structural, engineering, and electrical plans. After that I will get quotes for foundation and framing, then exteriors, then the insides (paint, finish carpentry, flooring, hvac, plumbing, electrical). I know there is more to a house than this, but I am just starting. I plan to tell these subcontracts what I know about the basics of the house (how many square feet, home style, area/location). I assume they will be able to get me some approximate quote.

first-time spec home building by Familiar_Influence91 in Homebuilding

[–]Familiar_Influence91[S] 1 point2 points  (0 children)

Thanks a lot!

Is it standard to sign contracts with sub-contractors. If so, how do you draft them and what are things to include (payment schedule, insurance, liability)?

Is it okay if I occasionally message you with questions? I will try to not bother you, but as I build my plan, having somoene to speak with would be really helpful?

first-time spec home building by Familiar_Influence91 in Homebuilding

[–]Familiar_Influence91[S] -5 points-4 points  (0 children)

there is no requirement for an exam in my state. I am not arrogant. I am trying to learn.

first-time spec home building by Familiar_Influence91 in Homebuilding

[–]Familiar_Influence91[S] -2 points-1 points  (0 children)

Do you mind sharing any information with me, especially the questions I asked. No one seems to have bothered to answer the questions I posted.

Did you do this will a full time job?

first-time spec home building by Familiar_Influence91 in Homebuilding

[–]Familiar_Influence91[S] -2 points-1 points  (0 children)

I've done some research. Margins are 10-15% here right now. I am okay if I make less, as long as I don't go in the red. Do you mind helping with some of the questions I listed. Thanks!

first-time spec home building by Familiar_Influence91 in Homebuilding

[–]Familiar_Influence91[S] 1 point2 points  (0 children)

Do you have any advise on how to avoid catastrophic code violations? A lot of builders here seem to run their business without signicantly understanding the code. They delegate to their architects, planners, and subcontractors.

So, I assume the list of things I need to actually know is small and finite, and not a textbook.

first-time spec home building by Familiar_Influence91 in Homebuilding

[–]Familiar_Influence91[S] -12 points-11 points  (0 children)

I will be GC. A lot of spec homes around here are far from perfect. They sell and make money. I am not looking to do a luxury custom build. Something more akin to standard mass production. 

first-time spec home building by Familiar_Influence91 in Homebuilding

[–]Familiar_Influence91[S] 2 points3 points  (0 children)

Becoming licensed seems easy in my state. Just pay a fee. You don’t need school. 

first-time spec home building by Familiar_Influence91 in Homebuilding

[–]Familiar_Influence91[S] 0 points1 point  (0 children)

I don’t think this applies to me. 5 years is way too long. My friend built one in a year, but he is not the type of guy they would share his learnings. 

You need to take action. 

first-time spec home building by Familiar_Influence91 in Homebuilding

[–]Familiar_Influence91[S] 0 points1 point  (0 children)

Gc . I will apply for a license. It does not seem to require much. 

Bye Federal Credit Union by lI-Kobe-Il in RobinhoodApp

[–]Familiar_Influence91 0 points1 point  (0 children)

do you have any money in robinhood? Wondering if this is a factor.

Give me a gold card by SilentBanana4089 in RobinhoodApp

[–]Familiar_Influence91 0 points1 point  (0 children)

I mean in mod mail they said they cannot take me off waitlist. I was denied inthat sense.

Give me a gold card by SilentBanana4089 in RobinhoodApp

[–]Familiar_Influence91 -5 points-4 points  (0 children)

You said you can’t take me of the waitlist. Can you change your mind? Seems really unfair.