I like the mill work in your home. I currently work as an architectural carpenter. Going to school for construction management. I’d like to get into building spec homes in a few years.
Glad to hear you're putting out the course. It was blatantly obvious you're meant to have one. You explain issues very well, and have the experience we want to learn from. This video is right on time! Unfortunately, even though I have some experience and education in this area, I don't feel like I'll ever find a lender to back me as a single woman to begin building a spec home/business.
Thank you I appreciate the kind words! If you start a business, basically just setting yourself up as an LLC, I think because you are a woman they consider you a minority and you may have an easier time with getting financing, it’s worth exploring
Jason is spot on. Female business owners get access to special incentives including tax benefits. As long as you've done your homework and know what you're doing being a female is actually an advantage. Like he said if you run into trouble it's likely due to a lack of required experience. To take the first step lookup what it would take with your local rules to get your Builder's/Contractors license. Get your builder's license, plans, materials, costs for sub contractors etc. and hopefully you can get financed with a construction loan leveraging the builder's license. Also, like he said some banks just don't do these types of financing and others are very restrictive. If you are willing to move to get started there are markets that are very profitable where the requirements to get a builder's license are minimal.
I do offer a consulting/coaching service for $99 per month(1 hour long phone call per month-Includes membership to a private Facebook group) then another option is a membership site with videos/forms/checklists and a live zoom Q&A - 1per month- includes the Facebook group. This is $35 per month or if you just want to join the Facebook group(I answer all questions that are posted) this is $5 per month. You can email me to get started jason@josephscotthomes.com
It should be available for you mid June. I am launching a membership site end of next week, will have videos(ones not on TH-cam) will do live Q&A’s, there will also be a community group feature for all of the members, plus some “bonus content” I can email you the link for it this week if you are interested in joining. Send me an email jason@josephscotthomes.com
Any opinion on finishing a basement as part of the spec? There is a builder in our area of Michigan who will finish half the basement to include a bedroom, full bathroom, kitchenette/bar area, and living room. I know finishing basements is a cheap way to get square footage compared to building above ground but will it pay off on a new spec as far as return goes?
It’s not something we would do for a spec unless we decided we were going to build a home that was smaller than normal and then finish the basement to get the overall same amount of square footage but if we’re building a spec we don’t normally finish the basement because we’re trying to keep the price point as low as we can
It is not, but it contains most of the information that would be found in a course, Plus I’m going support with the Facebook group any questions that are being posted in there I am always answering
@@JasonLawrence I actually went ahead and signed up anyways. Very helpful and thanks for taking the time. Upgrading my account soon. I also requested to join the Facebook group but still waiting for approval.
If I'm an investor and buy the lot, but need a spec loan can the builder (reputable, builds in the area frequently) sign a completion guarantee to avoid a personal guarantee? Or should I have the builder get his own financing? I'm trying to avoid personal guarantee for the spec loan and figure out the structure here
Yes the builder can get the construction loan or could sign the personal guarantee. Builder getting The financing would probably be the best way to do it
I like the mill work in your home. I currently work as an architectural carpenter. Going to school for construction management. I’d like to get into building spec homes in a few years.
Thanks for the information. I'm a current Realtor looking to get into building spec homes.
Great info! Thanks man.
Your new course sounds great, very helpful and informative!!
Thank you!!
Glad to hear you're putting out the course. It was blatantly obvious you're meant to have one. You explain issues very well, and have the experience we want to learn from. This video is right on time! Unfortunately, even though I have some experience and education in this area, I don't feel like I'll ever find a lender to back me as a single woman to begin building a spec home/business.
Thank you I appreciate the kind words! If you start a business, basically just setting yourself up as an LLC, I think because you are a woman they consider you a minority and you may have an easier time with getting financing, it’s worth exploring
Jason is spot on. Female business owners get access to special incentives including tax benefits.
As long as you've done your homework and know what you're doing being a female is actually an advantage.
Like he said if you run into trouble it's likely due to a lack of required experience.
To take the first step lookup what it would take with your local rules to get your Builder's/Contractors license. Get your builder's license, plans, materials, costs for sub contractors etc. and hopefully you can get financed with a construction loan leveraging the builder's license.
Also, like he said some banks just don't do these types of financing and others are very restrictive.
If you are willing to move to get started there are markets that are very profitable where the requirements to get a builder's license are minimal.
Great video!
Hello, great video, do you provide mentorship?
I do offer a consulting/coaching service for $99 per month(1 hour long phone call per month-Includes membership to a private Facebook group) then another option is a membership site with videos/forms/checklists and a live zoom Q&A - 1per month- includes the Facebook group. This is $35 per month or if you just want to join the Facebook group(I answer all questions that are posted) this is $5 per month. You can email me to get started jason@josephscotthomes.com
Spec home like at the new construction site? Your info is so good
Thank you!!
Is the course out or is it still in development? Looking forward to it.
It should be available for you mid June. I am launching a membership site end of next week, will have videos(ones not on TH-cam) will do live Q&A’s, there will also be a community group feature for all of the members, plus some “bonus content” I can email you the link for it this week if you are interested in joining. Send me an email jason@josephscotthomes.com
Any opinion on finishing a basement as part of the spec? There is a builder in our area of Michigan who will finish half the basement to include a bedroom, full bathroom, kitchenette/bar area, and living room. I know finishing basements is a cheap way to get square footage compared to building above ground but will it pay off on a new spec as far as return goes?
It’s not something we would do for a spec unless we decided we were going to build a home that was smaller than normal and then finish the basement to get the overall same amount of square footage but if we’re building a spec we don’t normally finish the basement because we’re trying to keep the price point as low as we can
what margin should I expect as a spec home developer?
Is the $5/month subscription the course you are talking about in this video?
It is not, but it contains most of the information that would be found in a course, Plus I’m going support with the Facebook group any questions that are being posted in there I am always answering
@@JasonLawrence I actually went ahead and signed up anyways. Very helpful and thanks for taking the time. Upgrading my account soon. I also requested to join the Facebook group but still waiting for approval.
If I'm an investor and buy the lot, but need a spec loan can the builder (reputable, builds in the area frequently) sign a completion guarantee to avoid a personal guarantee? Or should I have the builder get his own financing? I'm trying to avoid personal guarantee for the spec loan and figure out the structure here
Yes the builder can get the construction loan or could sign the personal guarantee. Builder getting The financing would probably be the best way to do it
Hi, Where would be able to find out what is included in your course? Interested! Thanks!
Hi Josh, can you send me an email jason@josephscotthomes.com and I can let you know
What state are u in ?
Hello, I am in Wisconsin
Don’t just talk to banks. Look at lenders who specialize in construction loans.