All Forum Posts by: Keith Bloemendaal

This can be different from builder to builder. It also depends if the builder is a developer or just buys developed lots. It also can depend on cash flow and their specific business plan. 

At my previous job, we were developers and builders. At one time we had over 150 lots developed, and another 60 acres or more that we owned but hadn't developed yet. 

Me personally, just starting out, I just bought 3 lots here adjacent to one another. I close on them in a couple of weeks and will be able to start immediately. My homes will be spec, and I will stagger the start of them (30-60 days apart), when the first one goes under contract, I will purchase another lot. My goal is to always have a home ready to buy, I may need to increase to 4-6 lots in order to do so, we'll see how 2015 rides out. 

In my Town it takes 2 weeks or less to get building permits, maybe it helps that I sit on the Planning and Zoning Board, but we are a small beach town. Permits to create a subdivision is a whole other ball game, 6-12mos depending on the size/scope. 

 I have a clearing subcontractor. Merry Christmas to you as well!

Great build @Jay Hinrichs I have thought about trying to find some infill spots in downtown Wilmington NC to do something like this (Wilmington is very similar to Charleston)

I started with the basics of my idea (I build new homes for sale), if the conversation went further I broke out more detailed numbers. I probably pitched dozens before I found a good match for me and my needs.  

I created a custom map of the 3 properties I am purchasing to build on a couple weeks ago. Google My Maps isn't all that new, but they have made it incredibly easier to use and embed. See screenshot below:

My purpose here was to show where the properties were in relation to beach access points. See actual map here:

https://www.google.com/maps/d/edit?mid=z2iNrWQJAve...

I have only just begun to play around with this, but you can add data, place markers, change colors of features, and much more. 

Anyway, just thought I would share...

Just a quick update:

First of all, I want to wish everyone a Merry Christmas! 

Had some slow progress the last couple of weeks trying to get the operating agreement completed for my partnership LLC. Lawyers and accountants sure do make simple things complicated! We finally completed it late yesterday and signature pages are being Fed Ex'd to me today. We have a closing date of Jan 6th for the 3 lots and my first construction loan for the spec home, I doubt we will make that but hopefully we can close that same week.

I am awaiting my plot plan to come back and will get my permit submitted as soon as it comes in. I also have crews lined up to clear all three lots the day after we close (lots are heavily wooded, see image below) and am working on my project schedule. I am also working on my second spec design to hopefully start 30-60 days after this one begins. 

Sounds like simple miscommunication. I would recommend amending your contracts to reflect "Turnkey" and add language that final bid amount will be amount paid, any and all added charges or change orders will need to be approved and in writing. 

On my new homes, I pay 5%, which is standard around here for new construction deals. 

 Hmmm, according to my numbers, We should clear $60k on the home, after fees, closing etc... 

Wow, what a story! Thanks for posting it, definitely worth reading!