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All Forum Posts by: Philip Jackson

Philip Jackson has started 0 posts and replied 16 times.

Quote from @Philip Jackson:
Quote from @Bruce Woodruff:
Quote from @Philip Jackson:

@Douglas Gratz

How do I get started in new construction as a beginner 

No I don’t have any experience in construction.  But I have done 1 fix and flip project and I have sold other properties before @Bruce Woodruff

 Don;t start in new construction....specially not on this level. You will get your butt handed to you. Start small and easy and work your way up. Do you have any hands-on construction experience?

 @Bruce Woodruff I would like to do a much smaller single family townhouse for starters and than work my way up over the years .  Any advice would be greatly appreciated 

Quote from @Bruce Woodruff:
Quote from @Philip Jackson:

@Douglas Gratz

How do I get started in new construction as a beginner 

No I don’t have any experience in construction.  But I have done 1 fix and flip project and I have sold other properties before @Bruce Woodruff

 Don;t start in new construction....specially not on this level. You will get your butt handed to you. Start small and easy and work your way up. Do you have any hands-on construction experience?

Quote from @Troy Sheets:
Quote from @Eric Greenberg:

Congrats Troy! Thanks for the details on this project. How many lots did you utilize for the 9unit and what was the original zoning?Thats a shame on the building between the units and wild the 9-unit is only $6400 without the abatement! 

 The 9 unit was only two lots. The lot in between would have gotten me enough square footage to utilize the green roof bonus which would have gotten me 3 additional lots on top of the 4 by right the lot allowed. As far as taxes, I suspect it will be much higher at some later date, as of now the appraised value for tax purposes is only at $1m or so. I'm not complaining and it doesn't make a difference for the next 10 years, so they can appraise it at where they like, for now! 

@Troy Sheets how do I get started in new construction as a beginner 

@Douglas Gratz

How do I get started in new construction as a beginner 

Quote from @Douglas Gratz:
Quote from @Bruce Woodruff:

Wait...what happened to your original deal where she was just gonna pay you to build a house for her? Wouldn't the profit on the project have been enough to make the loan payments? I must be missing something......

I wish you all the luck in the world, Douglas, but you sure do get yourself into some fixes, don't ya?


 Yeah, what I was saying when she was paying for all the changes, she may just be in the architect directly, paying for the kitchens directly etc I talked to a few builders I know supply houses sometimes front of lllstuff they can on credit and add a percent, and then I only need to raise so much less

 @douglas Gratz how’s the project going 

@Douglas Gratzundefined

Quote from @Ravi Karuturi:

Thank you all for your suggestions. I was able to find a lender who was willing to lend based on credit profile and up to 80% LTV even though i dont have experience. I am thinking of giving all the work to GC so the lender asked that i got with some approved GC so he feels comfortable work will be done correctly.


 I’m currently looking for a lender for new construction for beginners if you could help 

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