I have been reading the different threads on this site and have come to the conclusion to ask for advice...
Hmm..ok..this is how I will start:
I am a 25 year old woman from Chicago with NO personal experience with contracting of any form, but my husband is a framer. Eventhough I was born in the US I have a Polish heritage and my husband is "off the boat" or so to speak, with no knowledge of the way things work here in America...he just knows how to do his job.
I want to build houses!! The first step I am taking is I have signed up for a General Contracting course at our Community College that lasts 14 weeks for 3 hours a week. I believe that I CAN DO IT!
Many of you here that I from Chicago know that Chicago is a very competetive market amoung sub contractors ( and I know this because everyone that my parents know build houses and own their own contracting business etc..too bad my parents went the way of trucking!!). The thing is, I still believe that you can succeed here. That there is an immense value of building a home for someone as if you were building it for yourself.
My question is this, how difficult would it be for a women?? Where would I begin??
I was hoping that since we have some equity in our home, I would be able to refinance and take a cash out so that I can purchase some property. Then I would go to the bank to get a New Construction Loan. I have no idea how difficult this would be , but we have pretty good credit so that shouldn't be a problem. Another thing I have no idea about, is if I can turn around and sell this house after I am done building it? Do I have to BE GC in order to be the Owner/Builder? Should I incorporate, or do it personally see if I can do it, and then incorporate?? I know that I can call my dad's accountant and she can help me with the financial questions, but I feel that I would like an opinion from experience.
Please let me know, and thanks for reading this long post...what can I say, I am a woman--we LOVE TO TALK!!! He he he.. :cheesygri