All Forum Posts by: Rob Harris

I use Pratus. They do a great job for me. 

Pratus Insurance; Lampasas TX

Mindi Pratus 

Inbox me for contact details of you like. 

@Mark Allen / right on point! I employ the same methodology. It Works!

Def want to hear what folks have to say about this..... :-) 

Tons of variables to consider so the question is unfortunately to general.  

Colton Joseph - NP Holy Crap!!! - $14! That's a PORK JOB! Given I don't know set backs, but if it's 60' or less,, to make city utility connections and no permit costs (Don't know what Leander charges),,, seems very high. Licensed subs in areas like Leander have significantly higher mark ups. Send me a colleague request or email and we can communicate directly.

@Colton Joseph - 

I'm down building down the road in LAMPASAS. 

BEAMS are how far apart? 

That's both labor and materials OTD...? 

Pricing sounds about right with a mark up by your builder.. 

I'm currently building two single story 1201 sf patio homes with single car garages and a 10x15' rear patio. I'm into each of the slabs for $11,650. 

Jonathan Beemer Hard is fine but they will have there own lending criteria. Will require much more skin (money)in the game. Make sure if you talk to a hard lender they give you out the door figures in writing to make sure not sneaking in "other" fees. Also if you have narrowed from them they will probably charge you more points up front. Remember, when using hard dough your performance efficiency is soooooo important than ever. Everyday is costing you serious interest. Your performance must be air tight. Lender won't want to hear excuses about weather or other circumstances,,,,, so ensure you take into account everything that could effect your performance. I would also put a required performance time frame with specific liquidated damages for your GC (assuming you aren't doing this yourself) so he/she knows up front how important it is to complete the project on time. Would b good idea also to make sure you have permanent financing lined up also to make sure you can get this in place without a problem. Always give yourself "room" ,,, meaning be ultra conservative when calculating projected profits. If any bank sees you are not be conservative this will cause them to doubt you.

Many differing factors involved. Personal residence vs income property is your first big hurdle and will dictate your path. 

Also, whether you approach a local community Bank vs a national Bank as you will find they are not cokie cutter nor all the same..  Suggest you talk to a couple of both concerning their lending parameters to get an idea of what's going to work best for "your" situation. There are a number of operational and financial questions they will all ask which will determine what they will and or won't do for you. 

@J Scott - spot on as usual. @Ameer Alexander You are starting to take a new beast. There will be similarities but you are adding performance tasks your are unfamiliar with.... So finding a successful and proven person who had several projects under there belt to partner with or hire as a consultant or the like to help you build your systems and processes to maximize your profitability. 

Note: Also know new construction financing is a different animal. Your past successful performance doing such carries weight with banks. If you have no past new construction projects to add to your credibility documentation,,,, unless you have a partner that can demonstrate this,,, you will run into significant bank financing road blockd...   But Hey, if you have the cash to do so to establish your credibility,, then you have no worries other than ensuring things work out performance and sales wise as projected. 

@J Scott

Exactly..... Tremendous amount of variables here to remotely make an informed decision. 

@Tomer Kamil

If you're not experienced in this arena, I highly recommend the book suggested by J Scott and you connect with possibly an experienced flipper or GC and maybe partner with them to help gain hands on experience. Quickest way to gain solid experience is in the trenches learning the "why's" and "why nots" with all decision making. Any time a person makes any decision from start to finish ,,,,, from looking at the property through the disposition of that property, should be able to clearly articulate why every single decision made,,,,, and can also pin point monetarily where profits were made or lost for reach decision. 

From here, successful systems and processes are birthed and refined.