All Forum Posts by: Pope Lake

@Ray Johnson and @Seth Borman - perhaps one of you can answer this as well. If I'm building 4 townhomes at roughly 1400 sq ft a piece, would you see any cost savings doing a primarily brick construction? At least for the exterior. 

Forgive the novice seeming questions, I have no background in construction! :) 

@Ray Johnson - great point and I have looked into Modular Construction for a previous, larger project. I like it a lot because of the factory efficiencies created and time reduction. For our 4 unit, as you're suggesting, we think the scale will be too small to work - logistically and pricewise - for this project. Best of luck on your project in LA. 

@Seth Borman awesome point as well. As I've been asking around I've found exactly what you're saying - despite the price increases with lumber, it still is pretty much the most cost effective option. In terms of the value engineering you're talking about a friend mentioned to me doing construction is spec'ed to be 24” on center studs instead of 16” - and other cost saving tactics like that. Is this along the lines of that you mean? 
 

BP,

Lumber and steel prices are going insane right now, does anyone know of reliable non-conventional building materials that can be used to reduce construction costs? I am currently seeking to build 4 new townhomes in the Birmingham, AL market my goal is to avoid (to the extent possible) using conventional materials like lumber and steel to create more value for my investors.

I've been reading, and a number of materials have come up so far - insulated concrete forms (ICF), structural insulated panels (SIPs) - and I'm curious if anyone in this community has any experience with materials like these or others.

Thank you!

BP, 

Lumber and steel prices are going insane right now, does anyone know of reliable non-conventional building materials that can be used to reduce construction costs? I am currently seeking to build 4 new townhomes in the Birmingham, AL market my goal is to avoid (to the extent possible) using conventional materials like lumber and steel to create more value for my investors. 

I've been reading, and a number of materials have come up so far - insulated concrete forms (ICF), structural insulated panels (SIPs) - and I'm curious if anyone in this community has any experience with materials like these or others. 

Thank you!
 

@David Chappell I am also using Mark Buyers from signal rents. Would highly recommend. 

@David Chappel - I'm using a broker, her name is Sorita Pollnitz. But it will be refinanced in my personal name. Another person is Guy Hunt at Noble Bank in Birmingham. Last I checked they were tepid because of COVID, but they may have changed their stance. DM me if you're interested and I can give you their contact details. 

@David Chappell thats awesome. Market has been tight here recently so congrats on your buys.

I purchased a few months back a property in Bessemer to BRRRR. Renovations are finishing up this week and I'm looking to rent out and refi soon.

Tony, I would reach out to Joseph Buff, who's a Farmers Insurer. 

Hi Andrew - I am a BRRRR investor in Birmingham. I would recommend Signal Rents. Reach out to Mark Buyers.

@Greg Scott & @Ronald Rohde points taken! Thank you for your feedback!