Project Managing my VERY FIRST project... 40 Townhouses HELP lol
Hi Everyone!
Long time, but I'm back in need of some serious advice regarding a project I've been blessed to be a part of. Not sure if you all are aware of who I am, but I graduated with commercial construction project management in 2016 and got licensed in Real Estate earlier this year! I have been serving to pay my bills as a single mother and while moving back to Statesboro Ga after a misfire of an attempt in Atlanta for a year, I was blessed to come into contact with a gentleman who is wanting to develop his property into a 5 building, 40 unit, townhouse community.
Here's the kicker: He wants little ol me to help him pull this entire thing together!
After a few conversations with him, he believes in me, my knowledge, my personality and my schooling, and is excited to work with someone who he says has the same vision in real estate investing as him. This is everything that I have wanted minus wanting to do this on my own behalf, so I am very excited to take this on and believe I will do a great job!
Second Kicker: I don't want to mess this up!
I don't want to play around with his time or his investors money, and so I would love to have a little input as to the steps to take along the way. Some of the things that have transpired to this point:
1) Surveying of the property has already been done, however the site still needs to be cleared and prepared for development.
2) Property has already been zoned for R4 (high density residential)
3) Sewage/ Potable water to the site is already prepared for multi-unit development.
4) Blueprints have already been developed and reviewed by one of the top developers in the area.
5) Investor is primed and ready to see a proposal of all costs (where I come in at).
6) Owner is a contractor and wants to reserve some subcontracting roles for himself.
Some of the things that I am struggling with up to point is how do I come up with the figures to bring to the investor? Do I simply use the Cost index and give those figures to the investor, then prepare to take bids from subcontractors to resubmit afterward? Or do I get bids and use those figures to propose to the investor?
I feel that in order for any deal to go seamlessly each side has to be very well informed and knowledgeable as to all cost and all risks assumed. With that I want to make sure that my proposal is as accurate as possible. Not to mention, I don't want to look completely incompetent either! lol
Any suggestions, thoughts, comments, words of encouragement..... ANY THING you may have to offer me. I am accepting to it all! I really want to do a great job!
Thank you so much in advanced!
Shannon Webb