Originally Posted by
Bootsy Collins
Originally Posted by
NaturalBornHustler
So I am looking for a house right now, something that will be gutted and renovated even if I buy on the secondary market. I am a contractor, can do most of the stuff except the major plumbing and electrical myself so that is why I am going this route. I have been wanting to get back into real estate for a while and the next year or so is looking good for that.
Building a new house never really entered my mind until recently, but it is starting to look like an option. Land prices have dropped right along with the house prices, and I can get a decent spot in a desirable location for not much at all.
My main question is that I know it is a severe pain in the ass to start from scratch, but if I am going to be gutting and renovating an old house why not just have a builder build the structure and then I can finish it? That is where all the money is spent, finishes and all the detail work that goes into making it sell ready. I can do all that shit, basically all I would need for the architect to draw up the plans and the builder to frame it up and pour the foundation (I could that too if they would let me, don't know the laws on that yet).
So anyway anyone have experiences with the process? Would you do it again? Was it worth it?
Yes it is a huge pain in the ass especially in Southern California because City Council has to approve everything. Shattered my dreams of rebuilding a house in Laguna Beach
I can deal with a pain in the ass if it means more money in my bank account at the end.
I live far far away from the Cali as well so I won't have to deal with those lunatics out there.
Been reading up since I posted crunching numbers, and in my situation this is looking very profitable in the long run. Hell it seems like it is profitable for people who get them built to finish much less a bare bones structure that I would need.
Lots of great standard designs out there, no real need for a high priced architect you can just but the plans for a minimal cost done deal. I am amazed this option hasn't dawned on me before, I always have the mindset to never buy anything new so maybe that is why.