All Forum Posts by: Tom Sutherland

Jason, pm me the info also plz. This insurance is accepted in lieu of contractors insurance for permits?

Tom

Brandon, a GC usually charges a percentage on the project. It's not an 8hr on the job every day deal. A GC's job is scheduling materials,trades and inspections with the local municipality.

Most of the work is done on the phone literally. I GCed several projects personally and doing 1,2-10 all at once is not inconceivable. I'm sure your GC was making money on other projects at the same time as yours. Just an FYI 

there ar 60-70 1acre single family zoned lots available in my area was what I was telling Richard . They used to sell for 80-100k now they are on the MLS for 17-39k.

Manny I'm not doing the building. Richard is. I am well aware of building and zoning.

Call a realtor and get a comparative market analysis on the house. Or pay an appraiser. Make sure you pay a few bucks below the appraised value.

Make sure you get a contract stating the value you will pay him for the land after the house sells. Double check land values in the area. Lots by me that sold for 80-100k now sell for 17-30k and there are 60-70 available in my area.

So no extra compensation on your end for the money and credit line? Sounds to me like a wash on her (extra) designing.  Pay her out of both 50% his and yours. Then tell him if you invest more than him you get a higher percentage going forward.

What's the split with you and your partner? 50-50?  Is he doing any work? Are you? Lots of things to do when figuring in compensation.

Tom

Richard if you are stuck on the idea of (brokering) a new construction home by all means give it a shot.

Find a lot. Look at home plans online. Order the plans. Have an architect review and stamp. Get your GC to quote the build. Then sell away my friend.

Good luck!

Tom

Btw. Land is cheap out by me. 20k for an acre plot in a developed subdivision .