Looking for experience to Jumpstart Building and Development

3 Replies

As I begin my endeavor into residential development and home building I am trying to figure out how to connect with the right people that have had successful experience doing the same.

What are some recommendations as to how to go about this search?

I feel that someone currently in the business would not be a good candidate because they might see me as competition one day.  Rather, I'd like to find a retired developer or builder where I could pick their brain and get the occasional reality check. 

I've started assembling a team (GC, attorney, etc.)  and have even made bids on lots for building, yet the financial metrics keep coming in flat or negative, so either my strategy is wrong or my estimates are wrong.  

@Mietch Bernstein, keep in mind that the old adage "Location, Location, Location" applies as well as knowing How to build the project. Being a developer is a complicated business. Consider bringing on a partner who can add the strategic AND tactical insights to better help you frame your deals.

@Keith Frank

I agree about bringing on a partner and started down that road initially.  He had building experience but doesn't seem interested now (busy with his day job).

I also joined a REI group but found that most of the people there just wanted to flip houses, no building or development experience. Wondering if there's another place to find potential partners?

Another question I have is what is it that someone with experience would be looking for in a partner?

Originally posted by @Mitch Bernstein :

@Keith Frank

I agree about bringing on a partner and started down that road initially.  He had building experience but doesn't seem interested now (busy with his day job).

I also joined a REI group but found that most of the people there just wanted to flip houses, no building or development experience. Wondering if there's another place to find potential partners?

Another question I have is what is it that someone with experience would be looking for in a partner?

I doubt you'll get a 50/50 partnership with any successful builder unless you're coming in with a ton of capital or a bunch of experience.....the only true way to do it without any special circumstances is to start with flips on your own and slowly build up as you gain experience and money.....its a tough road but the only way to do it.

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