I often hear about issues like:Delays in project timelinesGoing over budgetQuality problemsPoor communicationLack of transparency with costsProblems with permits or licensingBut I’d love to hear directly from this community: what has been the most painful part of working with contractors in your real estate projects?

Dallas is generally one of the more easier cities to work with when it comes to permitting.

Many chicago GC's even though are licensed aren't pulling permits unless there is already violations or its a huge gut project so that is a bit differant then most cities. 

$2.5B New Center by Henry Ford Health, Pistons owner and Michigan State Universityhttps://www.clickondetroit.com/news/local/2023/02/08/incredible-investment-in-our-city-25b-detroit-neighborhood-redevelopment-to-begin-in-2024/$1.5B Investment, 12,000 temp jobs, 6,000 New Jobs: District Detroit Developmenthttps://www.detroitnews.com/story/business/2022/11/15/district-detroit-1-5b-development-to-include-housing-retail-hotels/69649853007/$1.4B Total as Hotel Added to Hudson Sitehttps://www.detroitnews.com/story/business/2023/11/02/hudsons-site-hotel-plans-move-ahead-as-city-issues-permit/71426631007/$439M Gilbert Foundation investment in Detroithttps://www.henryfordmsu.org/news/september-2023/gilbert-family-foundation-announces-nick-gilbert-neurofibromatosis-research-institute$400M Investment, 517 New Jobs: Norway’s Nel Hydronhttps://businessfacilities.com/nel-hydrogen-will-build-400m-gigafactory-in-southeast-michigan#:~:text=In%20Southeast%20Michigan-,Nel%20Hydrogen%20Will%20Build%20%24400M%20Gigafactory%20In%20Southeast%20Michigan,green%20hydrogen%20using%20electrolyzer%20technology.$300M Huntington Place Renovations & New Detroit Hotel https://www.crainsdetroit.com/real-estate/huntington-place-renovations-new-hotel-deal-reached$200M Chase Investment in Detroithttps://www.axios.com/2023/09/28/detroit-rebound-jp-morgan-investment$44M Investment, 237 New Jobs: Bollinger Motorshttps://michauto.org/bollinger-motors-plans-44m-metro-detroit-investment/$21.5M Investment for Detroit west side Dexter Neighborhoodhttps://www.clickondetroit.com/news/local/2023/11/01/neighborhood-on-detroits-west-side-receives-more-than-215m-in-investments/$20.6M Investment, 186 New Jobs: BorgWarnerhttps://www.crainsdetroit.com/auto-suppliers/borgwarner-invest-206-million-create-186-jobs$11M, 200 New Jobs: Volkswagen Scout Brand Investment in Detroithttps://www.teslarati.com/volkswagen-scout-11-million-detroit-investment/New Detroit Developments to Be Excited Abouthttps://www.metrotimes.com/detroit/15-new-detroit-developments-to-be-excited-about-photos/Slideshow/32734721/327353923 International Companies Choose Detroithttps://www.detroitregionalpartnership.com/international-investment-comes-to-detroit-region/6 New Residential Developments in Detroithttps://detroitisit.com/6-new-residential-developments-in-detroit-to-know-about/Contact us with any questions you have.

Only licensed plumbers can obtain the permits to complete underground plumbing where I develop.

Make sure all four units can legally transfer permits—otherwise you might find yourself holding a “fourplex” that only pencils as a duplex.Cash reserves: I’d plan on holding enough reserves to float one full off-season of debt service.

and did you follow local zoning and permitting requirements for the improvements?

Remote access – you can do this with QuickBooks Desktop but you need an additional software product or use QuickBooks Hosting (at a higher price)Auto Send Reports – reports or report groups can be scheduled to send automaticallyAutomatic upgrades – this is both a good and a bad feature, with QuickBooks Online you are almost always running the most up to date version (whether you want to or not)Company ScorecardDelayed charges/billing – enter charges to be billed laterIncome list/transaction centerInvoice automation – automatically create invoice from unbilled activityMore than one A/R or A/P account per journal entryLocation tracking, a secondary level of class tracking (QB Online Plus only)FIFO Inventory valuation (available in QuickBooks Enterprise but only with the additional cost Advanced Inventory feature)There Are More DifferencesI’m sure that this isn’t an exhaustive list of differences – please feel free to point out others!

New builds are higher risk with permits and longer timelines, not ideal for a first deal. 

It all depends on you and the commitment you are willing to put in a deal.I do a lot of the work myself unless permits are needed.