You are trying to establish yourself as a small business. There are no shortcuts that will magically get you there unless you have a bankroll. Then your just out there guessing on the right move. Your gonna have to build the business, spec homes, custom built, or remodel. I'm not trying to be a downer here but you have to give to take.
Paying yourself as the site manager or whatever this first time around is really not a good idea. Keep a job, any job. Do the work you can. Sub the rest. You'd be better off sub'n the whole thing and getting it done fast. If I am correct I dont think you can offer the home for sale until the final inspection is complete. Then you can sell it but taxes eat your lunch if you dont live there a year. Besides, the bank doesnt make those construction loans for free and the clock is ticking.
The 20% to a GC is the equity you are trying to cash in on, and what a homebuyer loses for having it all taken care of. Cant get paid twice for a job.
Just some things to consider.
Man I always hated people telling me it couldnt be done... now here I am giving that impression. Thats not what I meant to do, I want you to know it just takes some serious planning, effort and sacrifice. Patience and perseverence will always pull you through.
Best of luck with your venture whatever course you take.
Paying yourself as the site manager or whatever this first time around is really not a good idea. Keep a job, any job. Do the work you can. Sub the rest. You'd be better off sub'n the whole thing and getting it done fast. If I am correct I dont think you can offer the home for sale until the final inspection is complete. Then you can sell it but taxes eat your lunch if you dont live there a year. Besides, the bank doesnt make those construction loans for free and the clock is ticking.
The 20% to a GC is the equity you are trying to cash in on, and what a homebuyer loses for having it all taken care of. Cant get paid twice for a job.
Just some things to consider.
Man I always hated people telling me it couldnt be done... now here I am giving that impression. Thats not what I meant to do, I want you to know it just takes some serious planning, effort and sacrifice. Patience and perseverence will always pull you through.
Best of luck with your venture whatever course you take.
