ive been thinking about building a four section town house that has three bedrooms and two and a half baths each section and im willing to take advice but preatty much anybody, but im really hoping that there is somebody on this website that is expierienced in this type of stuff.
on the negative side: i have virtually no money (i make 80 bucks a week at little ceasars) and im 17, so the only way i can get this to work is i seem very well organized.
on the positive side: my father is friends with a wealthy realestate owner and i think that if im lucky i can get this dude to invest about 500 thousand dollars. I have a brother in law that runs a tree cutting service and he as a bunch of dump trucks and heavy machinery like that and i can probably get him to loan that shit to me or rent it to me for a low cost. I think i have enough money to get an architect to draw a basic layout to present to my dads friend (i got 250 bucks). I have no bills to pay so i can quit my job and put all of my time into this project, and i think i have a good place to buy land.
ive been researching on how to build a house for about 3 days on my spare time and i know i few things; i dont NEED a general contractor but somepeople think its better to have one because most only charge about 10 percent of all fees, but some GCs can save you about 10 percent of all fees by getting you materials for much cheaper then a normal person can(give me some tips on this). i also know that i should def. get an architect to draw the blue prints, but some people say that an arch can just draw them up at a flat fee or you can hire them and pay them about 100 dollars an hour everytime they come out (give me some tips on this)
some things that i have no idea about are; the workers, can i just hire a bunch of untrained guys and have sub contractor or two (much cheaper than i GC) to just direct these guys? contruction insurance, how expencive is that shit? am i obligated to buy my workers lunch every day? also im planning to work 6 day a week with about 5 people, how long would it take to finish the whole thing? do you think that if i price each town house at 350 thousan that i can turn a profit of 100 thousand each? do you think a three bed two and a half bath town house isnt going to sell for 350 grand?
if anybody reads this and is a general contractor, sub contractor, architect or just knows a lot about real estate, please give me some advice ive been looking this shit up on the internet for past couple days and i cant find an answer to about half of my questions.
on the negative side: i have virtually no money (i make 80 bucks a week at little ceasars) and im 17, so the only way i can get this to work is i seem very well organized.
on the positive side: my father is friends with a wealthy realestate owner and i think that if im lucky i can get this dude to invest about 500 thousand dollars. I have a brother in law that runs a tree cutting service and he as a bunch of dump trucks and heavy machinery like that and i can probably get him to loan that shit to me or rent it to me for a low cost. I think i have enough money to get an architect to draw a basic layout to present to my dads friend (i got 250 bucks). I have no bills to pay so i can quit my job and put all of my time into this project, and i think i have a good place to buy land.
ive been researching on how to build a house for about 3 days on my spare time and i know i few things; i dont NEED a general contractor but somepeople think its better to have one because most only charge about 10 percent of all fees, but some GCs can save you about 10 percent of all fees by getting you materials for much cheaper then a normal person can(give me some tips on this). i also know that i should def. get an architect to draw the blue prints, but some people say that an arch can just draw them up at a flat fee or you can hire them and pay them about 100 dollars an hour everytime they come out (give me some tips on this)
some things that i have no idea about are; the workers, can i just hire a bunch of untrained guys and have sub contractor or two (much cheaper than i GC) to just direct these guys? contruction insurance, how expencive is that shit? am i obligated to buy my workers lunch every day? also im planning to work 6 day a week with about 5 people, how long would it take to finish the whole thing? do you think that if i price each town house at 350 thousan that i can turn a profit of 100 thousand each? do you think a three bed two and a half bath town house isnt going to sell for 350 grand?
if anybody reads this and is a general contractor, sub contractor, architect or just knows a lot about real estate, please give me some advice ive been looking this shit up on the internet for past couple days and i cant find an answer to about half of my questions.
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