All Forum Posts by: Akinyemi Bajulaiye

This is all very helpful, thank you guys! 

I don't yet have my license, however I would pay for the license and insurance. Just want to make sure that I will in fact be going in this direction since I know there would be some expenses involved. 

Okay so it sounds like making sure I have subs lined up is one of the major keys. What administrative hurdles would I need to look out for? Coordinating material orders and deliveries? Pulling the proper permits? Handling payment and paperwork with the subs? Is there anything else I should be thinking about? 

I'm a new real estate investor. I purchased my first property last year, a duplex, with a traditional mortgage loan. Now that I have it rented out and access to a little bit of capital, i'd like to do a value add rehab. I've come across a few properties (SFH 3bed/1bath) in Philly under market value, however the quotes I get from GC's tend to put me above what i'd like to be all in for. I do know that GC's tend to mark up projects 10-30%. Now i'm deciding whether to GC my own project even though it'll be my first full rehab. I did my OSHA 30 a few months back and I took a construction mgmt course last year. Does anyone have experience GC'ing their own projects? And do you think this is doable even though it's my first one? Any and all thoughts would be helpful. Thanks

@Account Closed Hard Money is definitely an option and one that many investors go with. Although Hard Money can be expensive, as long as your ARV is a good amount over your all-in number (cost of acquisition + rehab cost) you should fare well. However, there are also lenders out there that are a hybrid between traditional mortgage loans and hard money -- less expensive than hard money, but a bit more strict with their approval process. Spring Garden Lending is a good example of this - https://www.springgardenlending.com/

@Victor Tran Are you looking to buy and hold, or are you looking to flip?