All Forum Posts by: Tom Sutherland

well, I am not sure how you would go about it. Usually a well established custom builder might generate customers through word of mouth.

Starting from scratch? You would need to advertise custom built homes and have lots in mind to build them.

Not an easy thing to do and you will spend a considerable sum on advertising. Most homeowners are going to want references and some background experience.

You are better of doing fix n flips until you have built up a reputation for quality construction before trying to broker a custom home build from scratch.

Tom

Welcome to BP Richard. Basically you are describing being a general contractor.

I live in Illinois and I have built a few houses and done several remodels.

My last house that I built for myself I bought a 1 acre lot and shopped home plans online. Found 1 I liked and had the online company make some custom changes I wanted. All in the plans cost me about 2500.00. 

Most bigger towns and villages require a architecturally stamped set of blueprints that conform with current building codes that have been put in place.

The area I built didn't require an architect stamp which saved me money. An architect will charge you anywhere from 1-3 dollars a sq ft to review and stamp your plans.

 As far as building a spec home (which is a home with no owner in mind at the time building starts) you would need very good credit,decent income, and usually have the land/lot payed for upfront.

Does that answer your question?

Good luck!

Tom

Deflection might be caused from early backfill at beginning of construction. If there aren't a lot of cracks then the contractor might just have done a poor job setting his forming before pouring the walls.

Stress cracks are what you are looking for. No cracks no problems.

A short sale is a house pre-foreclosure . Usually the house is underwater as far as the mortgage is more than the value. The bank sets the price at what they feel is market value. If market value is more than the mortgage owed the balance remaining would go back to the homeowner/ mortgager.

Make sense?

3.625 here at consumer direct. 1k in closing costs and I had to pay appraisal

Well after delving through all the info I feel there is no sense in bothering with this.

Thank you for the help.

I'm trying to figure this out. From what I have absorbed on the 401k information. I can go to my bank and request to open a self directed 401k account. Then have my 401k from my retirement through my old employer transferred to the banks 401k acct with no tax taken out of it. After that can I use those funds to provide a loan for real estate? Or buy some real estate on my own? I have about 50k in a 401k and want to leverage it without getting taxed . I currently pull out the minimum annually and pay tax on it because I'm forced to due to retirement

I worked as a cement contractor for 15 years. Pm me specifics and I can give you an idea on what it will take to repair it.

I have researched into this. Call your county sheriffs office they will have the information you need. My area it costs about 285.00.  The sheriff posts the notice in the paper for a certain amount of time then they post a 7 day not if on the door. After 7 days if they aren't out the sheriff will show up with you and you have to move their stuff out. If they vacate before that happens it only cost 60 dollars.

I am focusing everything within a 35-40 minute drive from my location. And actually more east northeast as that is closer to Chicago with higher population density and better shopping and entertainment amenities versus none of the above south and southwest except for cornfields and small towns