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All Forum Posts by: Harold K. Childs

Harold K. Childs has started 1 posts and replied 4 times.

Post: Build to Rent? Does anyone do this?

Harold K. ChildsPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 4
  • Votes 1

Update.  It has taken forever.  I contacted a few builders who seemed like they were not really interested.  After discussing it with my property manager more than twice, he gave me a contact after some research.  I met this small builder on site of one of his projects.  He said he has been doing it for himself and with his father for almost 20 years.  He was able to do all plans himself.  We got some plans, and he connected me with a commercial banker that he's worked with in the past.  I did have to put up a lot of money for these initial plans and his county record research.  We got financial approval.  He spend 3 months applying for permits (I was told).  Then I was told we should wait 8-10 months when the pandemic started (I think it was a stall tactic while he worked on another project).   We reconnected in Oct 2021.  It's been a waiting game for him to get to a point where we could move forward again.  He said the city was the main hold-up.  I called a few other builders who either had minimal experience or no bandwidth for another project.  So, I'm kind of waiting.  I had to resubmit everything for financing(for a third time) 2 weeks ago.  Construction costs went up 25% since the original bid.  

I'm told we should be able to move forward in the next week or two.   Fingers crossed.  The project will be a total of 4, A-class townhomes.  

Post: multifamily construction in Dallas

Harold K. ChildsPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 4
  • Votes 1

Thank you to everyone who responded to this.  You all have some great points.  I will add that the builders I contacted all said that they needed a complete set of plans to accurately bid the project.  The one with the high initial price said he would have to engage multiple professionals to get a set of "full plans" including a structural engineer, civil engineer, mechanical engineer, electrician, and plumber.  I do already have basic schematics.  

I will move to locate an architect and push from there.  I will keep you updated.  

Thank you so much!  @Chad Leveritt, @Nik Moushon, @Jason Hirko, @Axel Louis Bastin, @James H.

Post: Build to Rent? Does anyone do this?

Harold K. ChildsPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 4
  • Votes 1

I am absolutely looking into building on a vacant lot now.  I think I can put 3-4 townhomes on the small lot. Finding a construction company who can help with detailed architect plans has been difficult.  Were you able to find anyone?

Post: multifamily construction in Dallas

Harold K. ChildsPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 4
  • Votes 1

I have a lot on which I am looking to build 3-4 high-end townhomes.  I am looking for a good construction company with architect services to handle the entire project.  I think I am approaching it wrong.  I cannot get anyone to respond.  Any suggestions or contacts?

The only one that responded seemed to try and scare me away.  The first thing he said was that I would need to be ready to invest 75K on plans before he could give me a bid to shop to banks.  "When you are ready for that, I can help you."  Is that what I should plan on before anyone takes me seriously?  

Thanks for any input.