End Goal: Spec Home Builder // Current State: No Experience or Capital

[Keagan Maloney]

I have a well-paying w-2 job but I want to transition into ground-up residential development. I want to replace my day job with buying land, building spec homes and selling them. I have little construction experience, and little capital to invest. After doing research these seem to be reasonable options. With knowing my current state and end goal, which would you choose?

1. Start fix and flipping properties to gain experience and capital?

2. Work for a home builder to gain experience and then launch into my own company when ready?

3. Jump right in, Find a mentor to partner with on deals (of course I would need to bring something to the table, not expecting handouts)?

4. Something entirely different?

Current Skills: I have worked in solar and software sales the past 4 years. Not afraid to cold call, or knock doors. 

Looking for a nudge in the right direction from a vet. I appreciate it!!

[Chris Seveney]

@Keagan Maloney

Do not go out on your own at this stage. You can try and get a job with a home builder and hopefully one would hire you but it may be tough because of no experience.

I would never tell anyone to quit their job without atleast 12 months of income saved up to live off of - doing it with no money is not a wise move - doing it with no money and seeking 100% financing to develop land to be blunt will never happen. Sorry to be brash but want to let others reading this in on reality as many read posts on forums and think oh I can do this easily which is furthest from the truth.