Can't get started
I am a certified building contractor and a certified underground utility contractor. I have all the knowledge and skills but I just can't get started. Everytime I have a good opportunity it gets shut down by life or someone's stupid low price. I am working full time at a another contractors (40 million in contracts) office as a project manager. I like working there but I want more. I see the money but can't get my foot in the door. If you can give me any advice I would be grateful.
thank you,
Zackery,
Are you looking for some tips and help getting your own business started or getting into REI and buying properties/
Quote from @Jason Wray:I would like to do new construction or remodeling. Take the profits and flip a house and rent.
Zackery,
Are you looking for some tips and help getting your own business started or getting into REI and buying properties/
Quote from @Zackery Smith:
Quote from @Jason Wray:I would like to do new construction or remodeling. Take the profits and flip a house and rent.
Zackery,
Are you looking for some tips and help getting your own business started or getting into REI and buying properties/
One of the things you can do is reach out to a few banks/lenders and have them add you to their list of "Approved Builders" just make sure you have the time and crew because it can get busy fast. If you want to buy an investment home that is "Subject to" simply find a home and do an application for a "Renovation/Construction" purchase which is basically the same thing.
Ask up front if they will allow you to use your own licensing and do the work yourself. Get the cost analysis and blue prints done and work it out with the construction loan committee and start the work draw phase.
The other options which can be a little easier is buy a home that will pass an Inspection/appraisal and not be "Subject to" but does need a lot of TLC/renovations and do it yourself. Then in 6 months when you can use a new appraisal do a cash out refinance on the New ARV and pull out Max LTV to start the process all over again.
Quote from @Jason Wray:Wow that's so insightful! I'm definitely going to do this thank you so much for the advice!
Quote from @Zackery Smith:
Quote from @Jason Wray:I would like to do new construction or remodeling. Take the profits and flip a house and rent.
Zackery,
Are you looking for some tips and help getting your own business started or getting into REI and buying properties/
One of the things you can do is reach out to a few banks/lenders and have them add you to their list of "Approved Builders" just make sure you have the time and crew because it can get busy fast. If you want to buy an investment home that is "Subject to" simply find a home and do an application for a "Renovation/Construction" purchase which is basically the same thing.
Ask up front if they will allow you to use your own licensing and do the work yourself. Get the cost analysis and blue prints done and work it out with the construction loan committee and start the work draw phase.
The other options which can be a little easier is buy a home that will pass an Inspection/appraisal and not be "Subject to" but does need a lot of TLC/renovations and do it yourself. Then in 6 months when you can use a new appraisal do a cash out refinance on the New ARV and pull out Max LTV to start the process all over again.