I've been actively investing in short-term rental properties for the past three years, managing one live property and another that will go live in two months. I'm now considering expanding my real estate ventures into building custom homes, but I know this is an entirely different beast between the required capital, learning curve, time committment, etc. I'm not completely foreign to the construction process as I grew up around a family that was involved in home building, but due to living in another state I can't really lean on them for the direct, hands-on guidance.
For background, I'm partnered with an architect and interior designer, but I'd have to find most of the subs as I don't have any formal connections (at least in the area I'd like to build). I have about $100k in capital reserves and can leverage the 2 properties for additional capital, as needed. My goal would be to start within 1-2 years and get some more experience with the construction process, project management, financing/budgeting, etc. What would be the best ways to familiarize myself with construction process, while still maintaining my W-2 job?
I know this is a big leap, but any advice, criticism, or resources are greatly appreciated. Thank you!
