All Forum Posts by: Annunciata R.

Thank you @Karen Margrave . I was hoping to create an Immigrant Investor Regional Centre a couple of years ago. These are ideal for large projects and are funded by each applicant paying $500K along with a $40K admin fee. Most regional centres build hotels and collect syndicates of about 200 investors each investing $500K as a loan at about 1-2% over a 3 - 4 year period. However these are only ideal for investors who simply want a hands off approach in their investment

The model I am working on with the lots I have is building ADA Compliant SFR and opening RCFE. ARFs and RCFEs are staff intensive so this would work for the direct Immigrant Investor. I put the post to see if something similar could be formed for a construction company but only @Ahmed Porter appears to be in that fortunate position where he could sell his business or part of it if he wanted to, for $500K as he has the relevant staffing to do so.

I will definitely like to connect with you when the time is right to see if your crew can assist in my own development plans since it appears you have all the relevant staff in your firm.

@Ahmed Thank you for those pointers it seems like framing guys are 70% of the work, I will remember that. I appreciate that my proposal may not be the most efficient but I needed to hear it. I am trying to use real estate to create employment opportunities for something that forms a much bigger picture. I was trying to see if construction workers could make it work but judging from the responses including that of Jon Klaus, this route may not work simply due to the seasonal nature of the job. And yes I have seen the difference in efficiency when contractors are working for me on a daily rate compared to when working on a priced job basis!

Thank you @Karen all prior construction have been on my own property. I am not a licensed contractor as I only intend to be an employer/project manager overseeing the crew. I enjoy seeing a project from start to finish so I would not want to hand the project to an outside firm if I can help it. I want to be involved on most levels including choosing colours and type of tiles. I have already drawn concepts for a couple of the lots. The locations are Hollywood Hills, Hawthorne, Inglewood, Glassell Park, Laurel Canyon Blvd, Compton Blvd (commercial). The lot in Hollywood Hills is the largest at 30K sf with 3 lots so may be able to get 3 houses on that, depending on the gradient. I want to sustain enough turnover to have 10 staff on board as there are a lot of people I know interested in buying businesses that have at least 10 employees. Thanks

Thats an intresting conclusion that you have drawn from my post. I have been doing construction for the last 10 years but I use independent contractors and contracting firms I now want to use my own inhouse employees to drastically improve my profit margins and economies of scale.

I would like to start my own construction I already have the inventory - Land The idea is to build 5 - 6 new homes each year and buy 5 to 10 new lots each year. Finance is already in place for these projects but what I would like to know is roughly how many staff will I need on board and also what sort of pay. Is it even feasible to have my own in-house crew on such a small scale development. My goal is to have 10 staff in the company and that includes managing the existing let properties. At the moment the let properties only require 1 part time staff so I have a long way to get the numbers up.

Hi Dean, I purchased a commercial premises for a business that I am starting. However I did so though using my pension funds so that income used was tax free. Can I ask how many employees you have ? There are alot of foreign investors that want to retire in the US who will readily loan or invest 500K to 1M to get their Green Card. Some of the rates they will be willing to accept is anything from 1 to 2 percent on the loan.

Thank you Ginger that is a good idea. I have had it on my mind to do just that for quite some time! I just dont know where I should begin ie do you call the head of department, make an appointment to see them or just find out from the secretary if there is a notice board where I post my requirements. Ill give them a call and see if they can point me in the right direction.

Thank you Rick, I hope I get at least 8 more checks then without fear that its some error.

Thank you Ernest I am aware of the new Hillside Ordinance which eroded the value of alot of the available lots in LA. My understanding is you can now only have building size of roughly a third of the lot size.

All my lots are on developed roads in built up areas although the 30000sf in Hollywood Hills is on a private road about 500ft from the main road. I checked on zimas and navigatela and it is also on a landslide area however the land got separated from a house on a 4000sf lot which was up for short sale by a suspended LLC.

I felt that having the house would help the permit process as well as utilities I was hoping to buy the house but they wanted me to pay an extra 200K under the table. Now the property is off market. I am very new to building a house from ground up but will definitely like to connect with to get some estimates so I will try calling you this week.

Seems like you paid significantly over the market value for the property. There really is no harm in trying especially if "the zoning map on their site shows it is residential (and it still does)" You have clear proof of the documents you relied upon and unless there is a disclaimer on the zoning map, their error has caused you a quantifiable loss. If they are able to rescind a contract in favour of a home owner based on their error they should be able to rescind this if you push them hard enough with alot visits. I never rule out any possibilities. You can get anything you want if you put your mind to it.