All Forum Posts by: Steve K

The development process isn't really that complicated, but as stated above it's not something you can learn without doing it first hand a few times. It's incredibly expensive and the path to getting your final approvals is filled with a lot of frustration.

If you're seriously interested you can get a mini development education by picking up a small parcel and go through the process of having it re zoned. That will expose you to P&Z departments, Nimbys, attorney's fees, drainage reviews, site development bids, etc etc etc.

It's really no different than any other rental. Just use extra diligence when screening potential tenants and maybe do additional property checks during their lease term.

I've got a few rentals that were semi custom specs I couldn't sell when the world fell apart and so far they've remained in excellent condition. I did turn away some potential tenants along the way, but generally people who can afford to pay $3k + a month in rent aren't going to destroy your home.

Started two new specs and have a few offers out there, but so far no deals in January. Will wrap up two specs in February so hopefully it will be a more productive month.

Just started a new direct mail campaign so hopefully that will throw off a few deals in a couple months.

Congrats on the successful flip. To come out $20k ahead at the end of the day on your first stab isn't bad at all and you learned some lessons for future flips.

I know that area well and even looked at this particular house in it's original condition. You guys did a nice job fixing it up. Pretty surprised that appliances were stolen since the house is in a pretty nice area with very little crime.

Right now I prefer my own cash, but I don't have plans for 50 deals a year. If I ever decide to ramp back up the volume then private money is a no brainer.

Crowd funding will be an interesting space to watch develop over the next few years.

Just got a few drywall bids in for some spec houses. For reference a 1,900 sq ft home using 1/2'' drywall is going to run $5,820. That's 194 boards at $30 per.

I use the following formula:

( sq footage x 3.5 ) / 48 x price per board.

Currently paying between $35 to $40 per 12' board, all in.

@Rich Weese Congrats on your new house. Look forward to meeting up once you get settled.

Congrats on a successful spec. Getting down to $60 / psf is really impressive.

So now that you've knocked down the first one, what's next? Going to start picking up lots in areas that are hopefully much quicker with permits?

Have you had any thoughts on preference between new construction vs flips?

The Villages growth has been like a runaway freight train for years. The roofers joke that when they work there they don't even touch the ground, they just step on to the next roof and keep on going.

I've got some lots close to the villages that I'm just starting to build specs on again. I don't know much about the villages itself, but if you have questions about the area get in touch. Happy to help however possible.