All Forum Posts by: Daniel Hernandez

Thanks everyone! Positive vibes go a long a way

Pictures of where we are currently, ill be posting later costs on the project so far along with projections on costs and sales price

Here are some pics from the inside

(view from living room to dining and exit to patio)

(reverse view into from dining room into living area and kitchen)

(view of where kitchen will be)

(view into living room)

Starting this diary late in development but maybe can still provide insight to some. Going to attempt to summarize everything up to this point.

Current Stage of construction: Framing

1. We purchased this lot about 3 years ago for $6000
2. Have built 3 homes in this same neighborhood, this is our 4th
3. Took about 6 months of re-zoning to allow for a variance in the rear of the property so we could maximize the size of the home, mainly to accomadate a master bedroom downstairs
4. Lot was vacant, cleared out a few trees and started on the foundation, concrete slab
5. Altered the plan a bit so that the patio faced east instead of north, thus making it open to the patio.

Project Description: 2-story home, 3 bed, 2.5 bath, 1 office, 1 game room/4th bed

2808 sqft,  Lot  6,568 sqft

Currently looking for a CPA that has experience working with builders and real estate investors in the DFW area!

Need help with tax strategies to intermingle new construction with real estate investing

@Joshua Dees

Were general contractors we contract out most of the the work, some stuff like painting and light fixtures etc. we do ourselves.

I got my license online through Kaplan University, but there are alot of real estate schools in the metroplex, champions school of real estate is the one i hear about the most

Hi my name is Daniel Hernandez

I graduated from the University of Texas at Arlington Dec 2015 majoring in business management

My dad and i started building houses in Irving in 2014, our first deal went pretty well but we felt uneasy not being knowledgeable of all the other elements of real estate so i decided to get my real estate sales person licence Feb 2015. Since then we have built 3 houses total, currently working on a 4th (our biggest project yet)

I started with Keller Williams were i became a sponge, sucking in all the knowledge that i could handle, then decided to move to The Michael Group who i currently work with. Working in a sellers market has been tough but i have adapted and learned, as a result my business has grown substantially because of it.

My goal is to not only help myself become financially independent but to also help my Dad retire in the process. My dad worked as an apartment maintenance 25+ years, so now its time for him to take his expertise and have him being the one running the show instead of making someone else richer.

Im here to learn and to be a resource to anyone, I know from experience everyone always has something to offer regardless of experience or education.

Hoping to connect with some investors, builders, property managers or other like minded individuals

Welcome Joshua!

Im still fairly new to BP myself but I already see great value in being involved

I like that you are venturing into new construction also, i have helped my dad build homes in Irving and it has gone pretty well currently working on the 4th. Im interested in buying some rental properties to add some cash flow to the business cause as you know in new construction you have to wait till the property is finished and sold till you make any cash.

I am also a real estate agent by trade so if you have any questions regarding anything real estate related i can usually help or point you to someone who can

@TerenceJ , @LuciaR3

Im not the typical real estate agent that has been in the business for 10+years, but what I lack in experience I make up in hustle and determination. I understand that investors often times look over tons of properties before making a solid purchase as I do myself when looking for the right opportunities to invest in personally. 

Id love to be of help in anyway I can, whether its setting you up on alerts for criteria from MLS, helping with seeing properties, or even running some comps

I enjoy working in the city of Dallas

Depends, what type of properties are you looking for and in what areas?

Condos are usually attractive because they are usually cheaper to get into, the biggest drawback are HOA fees. If you can manage to find a property with reasonable HOA fees you can create a situation where your mortgage and HOA together is cheaper than rent, at least that way your building up some sort of equity.

You should look at some credit repair services they cost money but usually can get your score up to at least the minimum required by lenders, depending on what exactly your credit issues are