Live-In Contractor/Builder for Rental Property

[Austin Henry]

Hello real estate gurus!

I recently had something of an 'Aha moment' about a method of real estate investing/rehab that I have not heard of before but figured someone here may have experience with. As a builder currently working for one of the largest general contractors in the United States, I have always been attracted to the idea of BRRRR investing or house flipping and doing all or most of the rehab work myself. However, here in Southern California, the barrier to entry and competition within the market leave me hesitant to risk what little capital I have on a high leverage real estate investment. That being said, rent here is so high that it is tough saving money for any real estate investment whether or not it is local. That lead me to wonder if there was a way to use my experience and strength in construction to win free rent in a property in need of a rehab.

In college I converted a Dodge Sprinter van into a 'vanlife' tiny home on wheels that I lived in for two years, so I have both the ability to build and a comfort living in situations that are unorthodox. In addition to the hands on building experience, my current role as an assistant superintendent has given me experience organizing and directing subcontractors and dealing with construction contracts. Yet another plus would be my girlfriend (who I may or may not be able to convince to join me in such an endeaver) works as an architect both professionally and in a side business of other young architects that specializes in residential remodels and ADU conversions. She could likely help with design services associated with a remodel.

All in all, I think that a live-in contractor/builder such as myself working with an investor on a project would present a win/win scenario both parties. I would love to hear all of your thoughts and if anyone has had any experience with a situation like this. Do you think that there is a market for such a relationship? What considerations would need to be made when looking at schedule? Rent/Compensation? Contract writing?

Thanks for any and all feedback!

- Austin Henry