Interested In Following New Builds or Flips or Documenting Yours?

Land & New Construction
12yFollow

Interested In Following New Builds or Flips or Documenting Yours?

Karen MargraveBusiness Member
Moderator
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes

As a spec builder I am always interested in seeing what others are doing around the country. I regularly check in on the threads that have posts showing the progress of various projects, and thought it might be a good if we had a forum dedicated to that, where people can find those posts easily.

If you are a builder that is currently documenting your build or would like to do so on future builds, what do you think about having a forum dedicated to that, so that it makes it easy for members to find the threads? @John Blackman  @Kenneth Bell 

@Jay Hinrichs @Jon Klaus and of course @J Scott  and any others!  I know J has set the bar very high on documenting his builds, and it's not necessary to be as detailed as he is, but to be willing to update regularly with pics and posts. 

Are you a member that is interested in following along on the threads of those doing new construction? Please chime in. 

5Reply
85 views

Most Popular Reply

Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
12y

@Karen Margrave 

  Happy to do so.. I don't know how to attach anything to this site or any other site that is.. my guys send me a u tube I think.. and I just look at it.. and then I forward the e mail to others. I have one done now on a house I closed last week.

then we have our new build that is going to be on the show Southern Charm that is being professionally done and will air on TV in the south east happy to share that.

I need to start doing this in Oregon as well I have 3 starting on the Oregon coast this month so I can take shots of 80 MPH winds and sideways rain and my crews working in the rain when if they were in CA they would be home LOL... but yes that would be great. and it would be great if someone helped me with how to post this stuff  I got asked to do a pod cast for BP  but I can't do it because I don't know how to do Skype or use a chat thingee or a camera. I just thought they would call me on the phone.. like when I do radio shows.

Podcast Guest on Show #222
JLH Capital Partners51 Review
WebsiteView Page
3Reply
See this reply in the discussion

75 Replies

Jump to latestLatest
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Karen Margrave 

      Happy to do so.. I don't know how to attach anything to this site or any other site that is.. my guys send me a u tube I think.. and I just look at it.. and then I forward the e mail to others. I have one done now on a house I closed last week.

    then we have our new build that is going to be on the show Southern Charm that is being professionally done and will air on TV in the south east happy to share that.

    I need to start doing this in Oregon as well I have 3 starting on the Oregon coast this month so I can take shots of 80 MPH winds and sideways rain and my crews working in the rain when if they were in CA they would be home LOL... but yes that would be great. and it would be great if someone helped me with how to post this stuff  I got asked to do a pod cast for BP  but I can't do it because I don't know how to do Skype or use a chat thingee or a camera. I just thought they would call me on the phone.. like when I do radio shows.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    3Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Karen Margrave 

      I will forward the e mail of the one we just completed  you just need to click on it and it will play on your computer.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Jerry W.Pro Member
    Moderator
    Investor · Thermopolis, WY · Member since 2012 · 4k+ posts · 4k+ votes
    12y

    I would love to see lots of bathrooms and kitchens.  I have never redone the entire kitchen before and I am being too indecisive.  Would love some good ides here.  of course it would help if I could get a day or 2 off to work on it.

    1Reply
  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
    12y

    Great idea!!!

    Podcast Guest on Show The Truth About Real Estate Investing in 2024 (What Investors NEED to Know)
    1Reply
  • Karen MargraveBusiness Member
    Moderator
    OP
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    12y

    @Jay Hinrichs Sounds great. This thread is to gauge interest, so that 

    @Joshua D. can make a decision on whether or not it would be a popular  enough Forum to add. For now, you can post those on the New Construction forum, which is a good forum too. 

    I just thought a dedicated forum for New Builds - Remodels, etc. would keep everything in one place and easy to follow everyone's progress. 

    As for your stuff Jay, it sounds exciting! How did you get in on the Southern Charm deal? I'm sure that's a story in itself! 

    @Jerry W. I know there are a lot of people like you wanting to see remodels in progress too. 

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Karen Margrave 

      We sold the house to a celebrity chef  or at least a very popular one in Charleston he has 3 restaurants... so we fell into it really...

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Karen Margrave 

      when you say separate forum do you mean a sub heading  that is in the All forums listings. 

    I will send you over my video we made on wasp st. today for you to check out.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Joshua D.Pro Member
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    12y

    Let me add . . .  if people start doing something similar with rehabs and other projects that they want to document from start to finish, we definitely would want to see those too.

    I know that @J Scott has gotten a ton of new networking opportunities as a result of the few threads he created like this.

    Podcast Guest on Show #100
    3Reply
  • Account Closed
    Investor · Waynesville, NC · Member since 2014 · 408 posts · 121 votes
    12y

    I think this is a great idea. I personally start out documenting everything and then it falls off as things get really busy. Having a thread dedicated to it would help me keep my focus. 

    I am starting a remote rehab today, so maybe I'll start a thread and post updates as I get them.

    0Reply
  • Narelle Myke
    Investor/Residential Developer · Newark, NJ · Member since 2013 · 33 posts · 20 votes
    12y

    @Karen Margrave I think this is a great idea and I,among many others I'm sure, would both personally and professionally benefit from a forum like that.

    0Reply
  • Shawn Thom
    Investor · McKinney, TX · Member since 2012 · 588 posts · 224 votes
    12y

    Is this just new builds...or general rehabs included?

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Shawn Thom 

    @Karen Margrave 

    As they are completely different one is ground up and one could be tear down and rebuild

    Karen can you post the U tube video on this thread that I sent you.. lets see what kind of feedback we get from the one I did on one of my new builds.  If it is well received then maybe it would be worth doing.. I know I would certainly like to see other builders projects from ground up...

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Karen MargraveBusiness Member
    Moderator
    OP
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    12y

    For those wanting to see a build using time lapse photography, check out @Jay Hinrichs here: 

    Jay Hinrichs Youtube Video of build

    Please be sure to leave your comments! 

    3Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Karen Margrave 

      Thanks Karen

    that plan is actually a Portlandia 4 square very popular here in PDX... the lot we bought had this great Oak tree in front so it was perfect fit for the home... No garage was built as it seems to be an extra there in the area. First house I ever built without a garage.

    Stats

    Lot 20k

    permits 5k

    House 1850 sq ft  @ 85 a foot   157,500

    supervision   10k

    sold 282 net within one week on the market

    commish 15k

    carrying cost  6k

    msc.               5k

    bonus             5k  to GC

    Right at 64k net to LLC 186 days from lot purchase to house resale.

    Now lots have about doubled in this market in the last 6 months I think I got the last smoking deal that was on MLS... private sales might be better but that's were its at now.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Chris K.Pro Member
    Investor · Baltimore, MD · Member since 2012 · 1k+ posts · 655 votes
    12y

    I would absolutely love this. I love reading the "My flip/rehab from start to finish" posts

    1Reply
  • Account Closed
    Investor · Waynesville, NC · Member since 2014 · 408 posts · 121 votes
    12y

    @Jay Hinrichs can you elaborate on the financing you used? Was it a construction loan? How much down did you have to put?

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Account Closed 

      in this particular case I used one of my pet lenders to fund 100% of the deal.. so I had ZERO cash in it.. I paid 12%  and only paid interest as it was drawn.. I used the float that the vendors gave me so interest was 6k or less total .. Now I have just been approved in that market for bank financing since I have some track record. and I am getting 90% loan to cost at zero points and 5.5% and of course only pay interest on funds that are drawn

    so my cost of capital will be 2 to 3k per project on the next ones.

    My next 6 that I am doing there are about 270 to 320 all in projects so I will have 27 to 32k cash into each one.

    the one I am doing on 46 aiken and is the subject of the Southern Charm TV show is next.

    COC I think we will be looking at 70 to 100k profits so 2 to 3X cash on cash in 6 to 7 months That's why J Scott and I think alike we are not keen on rentals and making money at a 100 a month clip :) I like the big pay days and once you work your self in to closing one a month or more and or at least one every two months who wants to be a landlord anyway.. But I own rentals but you get the drift this is much more fun. I sit here in Oregon and watch my GC do his magic I control all the dollars.. And as long as we are blessed with a good market all is well... I think as long as we don't get to crazy we can do 10 a year here in this market no problem.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Will BarnardPro Member
    Moderator
    Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
    12y

    Excellent idea, I would vote for that! If it becomes its own forum, I would be happy to include documentation of any such deals of my own and engage others doing the same.

    Love the idea Karen! - Even though you did not mention me :(~

    Podcast Guest on Show #130
    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @J Scott 

    @Karen Margrave 

    As a follow up we don't make anything near these margins in portlandia.. one of the reasons is there in SC the all in building permits are 5 to 7k.. in our market they are 35 to 45k just for permits before you go vertical. and I know other areas are much more.

    Plus the competition for lots.. So in this market is we make 25 to 40k for a 300k or less spec that's about norm.. only way to make more is you bought lots 3 years ago for half price.

    I have some going on the Oregon coast that I think are going to go pretty good. We are buying the last of a subdivision form MY bank so I got a sweet heart deal. they sold them to me one at a time at the BULK price.. and they are financing them at 90% of cost.. a few years ago they would have done 100%... lot prices are 40 to 70k with sales prices at 350 to 450k.. and permits at 15k.. now its the coast so prices are more to build but here should be good margins here as well.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @J Scott 

    @Karen Margrave 

    PS   the coast houses are 2000 sq feet and we should build them for 85 a foot all in

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Will Barnard 

      would love to see your multi million dollar deals... I am still to conservative to do one here in PDX  we just don't have the market for it.. it drops off drastically after 1.5 and really it drops off at 750k.

    I did buy a big home in 04 from Jerome Kersey the B ball player it was 10k sq feet on the Willamette river.. it was moth balled and sat stagnate for 2 years. Wells had the loan.. Kersey was out of B ball and defaulted. he owed 3.4   we bought it for 1.2 with a 5 day close. we put 1.7 into it to finish it.. and sold it first day on market to the CEO of precision Die cast for 5 mil.. that was my best one ever.. and of course being a true blooded developer and full consumer west coast dude went out and bought a 500k airplane the next day  .. LOL

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Jon Klaus
    Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    12y

    This sounds good, Karen. I follow these threads and can post my own, too, but not with the detail of J Scott or John Blackman.  

    1Reply
  • Karen MargraveBusiness Member
    Moderator
    OP
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    12y

    @Jon Klaus I know you build too, and thought I had included your name. Maybe on the post in mods corner. Anyway, I always like snooping out what everyone else is doing, seeing what is done in different areas, costs and time involved, etc. so I thought others might too. I always read peoples posts, then forget what the name of the thread was, so thought if we had an actual forum we could find them easier!! 

    0Reply
  • Karen MargraveBusiness Member
    Moderator
    OP
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    12y

    @Joshua D. I don't have the ability to moderate back yet, maybe you can change the title on this thread and add REMODELS or FLIPS? 

    Thanks Josh. I know you're a busy dude! 

    0Reply
  • Joshua D.Pro Member
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    12y

    Done.

    Podcast Guest on Show #100
    1Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free