All Forum Posts by: Stephanie Fernandez

I’m a builder in Galveston, TX and have 3 new builds on the market that aren’t moving as fast as the other 12 I’ve built. I need them off my books, and willing to sell at cost. Please email me for details. Serious inquiries only. Original listing was for $689K.

Currently at $559K.

Willing to let go at $519K

3 bed/ 2.5 bath new construction, able to Airbnb. 2 min from beach, with Bay views.

I came to my local Texas REIA and attended the 3-day workshop. Lots of great information, but then they spend half a day pushing a $60k membership?!?

It all sounds like a big scam. I don’t see the value for that amount. Is this how they all are?

Many podcasts say to join the local REIA, but this cost wasn't discussed anywhere.

I’d like to transfer my IRAs to a managing firm that allows self-directed investments in real estate, and fund my company’s new builds. Any recommendations on a trustworthy firm to use? I’ve been with Edward Jones for 25 years and they don’t do SDIRA.

@Douglas Gratz make sure you get approval from the HOA if there is one. They can shut your project down and make you start over if you don't follow their own set of guidelines, separate from the city permitting. (They shut 2 of my builds down because I didn't have the silt fence up and the dumpster was 2' on to the neighbors property).

Also, get a list of inspections needed from the city and make sure to set them up. Usually:any underground sewer lines prior to concrete, roughin on electrical, plumbing and HVAC, slab inspection prior to concrete pour, same for driveway (don’t pour driveway until city connects water/sewer lines), TCI inspection for electrical meter, final inspection. City usually has a construction guidelines list with the process you need to follow and numbers to call. Also, make sure the address is attached to the lot, so the city can permit it. **And always document every step, so you know how to do it all again.

@Ryan Nolan I set my workers up with their own llc and pay them out of each projects funds. That way each project can 1099 them and the cost is split between my partner and myself. The upfront cost to set them up is a lot less expensive than employment taxes over the years also.