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Updated over 5 years ago on . Most recent reply
Residential Ground up contractor
Im doing my first ground-up project (2 houses on a lot) as an "investor" with a JV partner "builder" in SoCal. Its started out very promising.... but of course, its become a very frustrating experience when the vision for projects don't align... and project direction mismanaged and is starting to get compromised. Im noticing too many things going wrong to list.
That said, Im very hands-on investor... I've done plenty of rehabs for my buy and hold portfolio... Never flipped a house before, hence why I took on a JV partner doing flips. But now, Im finding the need to just take full control of this project. Of course, Im getting some resistance... Even the contractor hired by my JV partner is a bit arrogant and seems to be avoiding my calls... Not sure if its politics, but I get a feeling he does not want to speak to me directly. I would always have to go through my JV partner, I'm a bit baffled about why this is... Its been a very inefficient and frustrating process.
That said, this was a big learning experience for me... I realized I can do this on my own. There's not much difference with rehabbing to keep vs flipping. Ground-ups is a bit more taxing and a bigger learning curve but Im always up for a challenge. So, Im thinking I would just buy out my current partner... set up a new team and just completely take over the project. But of course before I can do that, I need to set up a new team in place. Can anyone here recommend a residential ground-up builder/GC working in Los Angeles, SoCal?
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If no construction had been performed and the project is still in plan check at LADBS, then you may very well be able to lose the contractor but your signed agreement with him or her will stipulate (or should) what you can do at this juncture. If the contractor is part of the problem, you should be able to convince him or her to mutually release each other and he or she should refund any monies paid but not performed to this point. Getting rid of the GC early and before construction begins is much easier than after you are deep into the project.