All Forum Posts by: Shannon Webb

Originally posted by @Shannon Webb:

Originally posted by @Bilal Haider:

If I were you I would have taken all the drawings approved by the investors so we know that what they are going to build and would give it to the top three contractors in the area and have to come up with their numbers and then I can reconcile all three quotations from the different three contractors including the activities your investor is looking at to do it by himself.

 Is that socially acceptable? To get unofficial "bids" and use the numbers in order to secure a deal without the contractors that provided their expertise? 

 Or is it common to provide payment for those estimates?

Originally posted by @Bilal Haider:

If I were you I would have taken all the drawings approved by the investors so we know that what they are going to build and would give it to the top three contractors in the area and have to come up with their numbers and then I can reconcile all three quotations from the different three contractors including the activities your investor is looking at to do it by himself.

 Is that socially acceptable? To get unofficial "bids" and use the numbers in order to secure a deal without the contractors that provided their expertise? 

Originally posted by @Bilal Haider:

Does owner wants you to take off quantiyies for Whole project or only he wants to take up against the work for his Sub contract?

 Thank you for responding:)

So he wants to have the investor fund the project while bidding out the other jobs in which he wont do himself. He is looking to get paid for the subcontracting work as if he had bidded for the job and won the bid.

Originally posted by @Stephanie D.:

@Shannon Webb Congratulations!  This is a huge deal for you!  I wish I had some suggestions or knowledge I could offer, but I've never been a developer or worked with one but I want to encourage you.  I'm sure others will offer insight and you'll figure out the best course of action.  Again, congratulations on securing this one and please keep us posted with what you decide and the progress :)

Thank you so much!!! I'm very excited to take this step in my career!

Hi Everyone! 

Long time, but I'm back in need of some serious advice regarding a project I've been blessed to be a part of. Not sure if you all are aware of who I am, but I graduated with commercial construction project management  in 2016 and got licensed in Real Estate earlier this year! I have been serving to pay my bills as a single mother and while moving back to Statesboro Ga after a misfire of an attempt in Atlanta for a year, I was blessed to come into contact with a gentleman who is wanting to develop his property into a 5 building, 40 unit, townhouse community. 

Here's the kicker: He wants little ol me to help him pull this entire thing together! 

After a few conversations with him, he believes in me, my knowledge, my personality and my schooling, and is excited to work with someone who he says has the same vision in real estate investing as him. This is everything that I have wanted minus wanting to do this on my own behalf, so I am very excited to take this on and believe I will do a great job!

Second Kicker: I don't want to mess this up!

I don't want to play around with his time or his investors money, and so I would love to have a little input as to the steps to take along the way. Some of the things that have transpired to this point:

1) Surveying of the property has already been done, however the site still needs to be cleared and prepared  for development.

2) Property has already been zoned for R4 (high density residential)

3) Sewage/ Potable water to the site is already prepared for multi-unit development.

4) Blueprints have already been developed and reviewed by one of the top developers in the area.

5) Investor is primed and ready to see a proposal of all costs (where I come in at).

6) Owner is a contractor and wants to reserve some subcontracting roles for himself.

Some of the things that I am struggling with up to point is how do I come up with the figures to bring to the investor? Do I simply use the Cost index and give those figures to the investor, then prepare to take bids from subcontractors to resubmit afterward? Or do I get bids and use those figures to propose to the investor?

I feel that in order for any deal to go seamlessly each side has to be very well informed and knowledgeable as to all cost and all risks assumed. With that I want to make sure that my proposal is as accurate as possible.  Not to mention, I don't want to look completely incompetent either! lol 

Any suggestions, thoughts, comments, words of encouragement..... ANY THING you may have to offer me. I am accepting to it all! I really want to do a great job!

Thank you so much in advanced!

Shannon Webb

Where do you want to invest??? Doing some driving over next couple of weeks, and would love to know some of the areas you would like to invest in. I know there are areas that could use some building up, mainly areas south of the Mercedes Benz stadium: Oakland City and East Point or even west of West Midtown. Are these are places potential growth areas? Or are investors avoiding them for a reason?? Shannon Webb, Atlanta's newest Realtor!

Hi!! I've been a member of bigger pockets for a while now and I have finished my Construction Project Management courses and am scheduling to take my Real Estate exam in January..... As much as I feel prepared to jump right in to the field with buying and selling, I want to make sure that I am branding myself in the right manner. My biggest question would be whether or not to project myself as someone who is new to the game (which I am) or as someone who is particularly knowledgeable (which I'm striving to be)? I want to be honest and true to myself, but in a field that is so competitive especially in a city like Atlanta, I don't want to jump out the wrong way. Also I would like to get to know some networking strategies, like do I just show up to different events??? Lol who invites you anyway??? How exactly do I find myself amongst the right people??? And should I carry my bomb behind business cards now, or should I wait until I test??? So many more questions but I'll start here! Thanks for listening!! ~Shannon, your most eager RE professional!

Joel Owens, thanks so much for your words... I prefer honesty over anything else in this world!! All of which I will hold dear. I do understand, I just want to be as prepared as possible. :)

Thanks so much Julia! 

Your response helped alot! You also bring to mind some of the aspects I have myself that could be viewed as valuable to brokers as well! 

And so I guess my question in another aspect would be, how do I know if the firm I'm considering is a mill? What questions can I ask the broker to find out?