All Forum Posts by: Ron Dancy

@Benjamin Sulka Oh lol my apologizes. No problem. That's why we're here to assist.

@Benjamin Sulka Haha I'm not a novice but learning everyday. Looking to engage with the community.

Generally which funding partner will dictate your involvement. Some lenders would required 50% towards the project and there are some lenders I work with that would require 10% towards.

In this market climate (Houston Texas is the area I am working) some lenders want you to have skin the game and be at a certain point in the project before they fund the deal and then the lender will reimburse you. Construction and investing experience affects the terms as well.

Initially the startup cost would be; secure the land lot, get arch & structural plans completed, professional services ie survey, soil test, elevation certificate, RESCheck (Energy Compliance Report), building permit, Impact fees, Clear lot, Pour foundation and go into framing.

So you would need your own cash to get started. Probably 10% - 25% contribution.

@Andrew Davis That's a great point about renters

Hey All,

I have some opportunities for new construction duplexes and wanted to get some insight on investors or homeowners that has experience with this type of investment.

What have been some of your experiences?

Are you currently in the market for Duplexes?

Did you buy new or built ground-up?

How did you source the opportunity?

Your feedback is appreciate

@Jay Thomas Also, to add to your point...Have the funds ready! Nothing like finding a good deal and you can pull your funds together fast enough #LearnLesson

Unfortunately for beginners - mid-level investors it's become extremely harder without a marketing budget and team. A lot of the guys and gals that's been in the RE game for a minute has establish their systems and teams to corner the market. I know of an operation that's spending 60k a month on marketing, personnel, office space, etc.

Depending on your direction for RE investing, I would reach out to a lot of wholesalers that are establish and build relationship with them. They are consistently marketing, cold calling and direct mail to property owners, you just have to communicate with them your perimeters and the numbers have to be realistic. The easiest way to locate wholesalers are bandit signs and BP.

Hope that helps...

Okay great. Shoot me a DM so I can gather more information.

@Steven Aviles DM me the zip I can take a look.

Just recently the City was requiring fire sprinkler systems for 3+ units or more. It maybe required if the units are connected. Certainly double before proceeding. City of Houston permit website has a chat function for questions.

Hi, are you looking to sell the property for the potential of it being an assisted living or you want to convert the property yourself into a AL?