Full time Residential General Contractor English / Spanish (Charleston)compensation: average project 50k labor + materials employment type: contract A private real estate investment company is searching for a construction company that can handle full residential remodels in Charleston, anything from taking a home down to the studs, and putting it back together to simple cosmetic projects, that include, laying tile, laminate, assembling cabinets, drywall, texture, paint, carpentry, plumbing, electrical.Plan is to start with 2-3 flips per month, and scale to 5-10 projects per month.

Times 2 years, and you'll be $3k short of your projected expenses.Now add into the mix the increase in costs from what you are using now to estimate your future CAPEX off of, and you won't have enough money...even if all goes well.Saving for CAPEX through your cash flow is a losing option.Let's just see what happens if you do have added costs, and vacancies per year:assume 1 month vacant and one month worth of added costs per year, and you would end up saving only around $4500 per year.That would put you $6k short of your 2 year estimate, and (assuming you will only have the 3 years after that) $1500 short at the 5 year mark.The HELOC is there waiting for you when you need it.

I will put you on my list for my next project.

I was driving 45 minutes away 4 days a week on a project for years.

A 1.90x equity multiple would imply that they make $190K total over the life of the project, inluding distributions, return of equity, profits at sale, etc.

I am currently looking for my second property and my lender is asking me what the projected rental income will be so he can count it towards my DTI.

@Kevin Polite  Hi Kevin, whatever happened with this?

However I did not find and close on these projects from the start, they were inherited.

Always be polite, of course, but don't be afraid to stand your ground.Good luck, Lois.

There are a lot of variables to making development projects work out for the best, but it can help you see the bigger vision for a property instead of just carpet and paint.