All Forum Posts by: 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!!

Hi Keagan,

Ground up development requires knowledge of the numbers and processes. The numbers involve learning the language and metrics of finance and how to use them to conduct pro forms analysis.

I will be happy to share a worksheet I created to run in-depth analysis for a ground up Multifamily project and teach at the same time

If you’d like a copy let me know how to get it to you and it’s yours.

Hey Barry,

I appreciate the reply. Would love to see it! I sent over a connection request and will DM you my email.

0 Votes

Dallas, Texas

Quote from @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.

Hey Chris,

I appreciate the reply. No need to apologize for being brash, the last thing I want is to be misled by a rose-colored glasses perspective. Sounds like development is something I build up to as opposed to a starting point.

0 Votes

Dallas, Texas

Quote from @Nicholas L.:

@Keagan Maloney

this is going to be extremely difficult with no capital and no experience...

here's an alternate plan.

house hack a property that needs some cosmetic improvements. then do it again. then do it again. do it as many times in a row as you can stand. now you have a portfolio and you've learned quite a bit about rehab.

if you don't have the capital to start... save up the capital.

hope this helps

Hey Nicholas,

I appreciate the reply, and perspective. I am actively looking at Duplexes in my area to do a house hack. I’m wanting to get into development to replace my day job as a form of active income, but the plan is to pour profits into a portfolio of houses. However it is seeming that building ground up is something I don’t start with. When it comes to house hacking is there anything you spent way too much time on that I should skip entirely?

0 Votes

Dallas, Texas

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

0 Votes

Dallas, Texas

All Forum Posts by: Keagan Maloney

Keagan Maloney has started 1 posts and replied 4 times.

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

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

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

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