All Forum Posts by: Robert Gravel

I am a contractor and it is real easy to mark walls when installing hardwood. In the old days up north they used to lay oak before the drywall. The installer will try to get as close to the wall tongue nailing as possible before they top nail. way too easy to hit the wall. I never paint before the flooring. It seems like you should but you are asking for trouble. If the place is painted the installer may charge a bit more to deal with the issue blow off and towel dust off fresh paint.  Also all the base trim needs to come off the wall if possible. you could leave it on and use quarter round but that is questionable. If door and jambs are coming out install the floor before the new doors. If you are using unfinished flooring your base will be marked up from the sanders, edgers and you may get some unintentional poly splash when coating. also if there is existing hardwood that will be refinished cover it before you paint and careful with the demo guys removing carpet. Razor cuts are really tough to get out and sometimes never come out. 

Thank you @Gregory Walter 

Thank you @John Anderson . I am all for the Lawyer but it would be great to have a outline of the structure I would be using. It is great to hear from an investors point of view.  I did read thru lots of old posts to get ideas.  

Ask family and friends. Charge cards as a last resort.

Hi All, I am a contractor doing business for over 30 years. Was in a partnership with my father since the early 80's in New York Suburbs. Back when we started and land was cheap we built a few spec houses and did ok. I also did a few flips back 10-15 years ago. Most were complete rehab/ expansions. Most of my work over the years have been mainly extensions/expansions/renovations for homeowners. 

I have recently moved to the Carolinas and want to focus some time on spec building. I have spent months studying the market and talking with local professionals. I see a good opportunity to infill lots and small 3-4 home subdivisions that the big builders have no need for.  I have some money to be able to build 1 house at a time but would struggle to get any small subdivision built and tying up all my money would limit me in land acquisition. For example I just bought a 15 acre lot.

I have a few people I know who want to invest in real estate. How do other builders structure "partnerships" with investors?  

Do they work on a profit split or a percentage return? if so what is typical?

What stake does the builder usually contribute to each project?

How is title to the property arranged? 

How are payments arranged? similar to what a finance company would do on a construction loan? 

Also I am a very hands on contractor and have found it very profitable and enjoyable to maintain my own crew for some phases of the building process. Groundwork and framing can set the pace of the entire job. How would that figure into the equation vs a builder who subcontracts every single item required during the building process?

Thanks In advance, Robert