All Forum Posts by: Rogers Smith

Welcome @Pablo Mendez. It sounds like you guys are on the right track. Reach out if you need anything from a local.

@Chad Mayo this is from the Louisiana Contractors Board:

Louisiana State Contractors’ licensing law allows an owner to build their primary residence without a license. You must live in this home. You cannot build a home to rent or sell without a license.

@James Petty rarely will my profit be 20% (or 80k on a 400k house). Generally, I aim for 50-60k profit per house in my market. As a builder you are always torn between loading up the house with a lot of cool (aka expensive) stuff and sell it quickly, or maximizing profit but potentially lengthening sale time. Good questions.

@Account Closed

 All of my subs provide me with their certificates of insurance with my company named as the certificate holder. Its costs them $50.

@Marlon Thomas are you talking about becoming a residential developer or a builder? That is, do you want to develop lots out of raw land (developer), or build houses on lots (builder/contractor)?

@Account Closed you mentioned you got a VR spreadsheet from another BP member. Would you mind sharing the name of the BP member?

@Account Closed In Louisiana the Homestead Exemption exempts the first $75,000 in home value from real estate taxes on your primary residence. Some Louisiana parishes double this exemption, but in most areas it's $75,000.

@Justin Tortorich we use Neal Adler with JacobsonAdler in NOLA. Very please with his work, and he has strong real estate experienced. He also knows the color gray, which is growing more and more difficult to find in a CPA.

@Jay Hinrichs you guys have brass balls. I'll stick with building. Cheers!

@Jay Hinrichs not to mention the months of delays by the permit offices and the not-in-my-backyard  protest crowd. That's why I stick with building rather than developing. Bless you Jay for putting up with all that crap so we builders can build.